Ubisoft Shares Increase Following Buyout Rumors

Ubisoft Shares Increase Following Buyout Rumors

Business

07 October 2024 21:57

Tencent Holdings is considering a possible buyout of Ubisoft Entertainment with the Guillemot family. The discussions are in early stages, and it remains unclear if a deal will occur.

This news follows calls from minority shareholder AJ Investments to take Ubisoft private or sell it to a strategic investor. AJ Investments, with support from 10% of shareholders, suggested changes after Ubisoft's market value has more than halved since the start of 2024, notably following a significant drop in share price after the launch of Star Wars Outlaws.

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Last week, Ubisoft revised its financial targets for FY24/25, expecting €1.95 billion in annual net bookings and “around break-even” operating profit due to lower-than-expected performance of Star Wars Outlaws and the delay of Assassin’s Creed Shadows to February 14, 2024.

Following Bloomberg's report, Ubisoft shares rose 33.97% to €14.00 per share, marking the largest single-day gain since the company went public in 1996. As of now, the price is slightly down to €13.68.

Tags: Ubisoft

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