On June 7, 2016, Gameloft’s founding Guillemot family said it would reluctantly tender most of its shares to Vivendi, which had already won majority control through a public offer. The family cited a deep strategic disagreement with its new majority shareholder and said it could not expect value creation under that arrangement. Vivendi later reported holding more than 95% of Gameloft’s shares and moved to squeeze out the remaining shareholders.
Why the Guillemots gave up resisting the takeover
The family’s stated reason was its disagreement with Vivendi’s strategy. Christian Guillemot said the family could not expect value creation from a majority shareholder with whom it was deeply at odds. That was the family’s assessment of the situation, not an independent finding about Vivendi’s strategy or Gameloft’s future prospects. Le Monde, quoting the family’s statement on June 7, 2016.
The decision marked a reversal from Gameloft’s public position in October 2015, when the company said, “We reiterate our intention to remain independent.” The family’s later choice to tender most of its stake came after Vivendi’s offer had secured majority control. Gameloft’s October 2015 statement.
How Vivendi gained control of Gameloft
The takeover unfolded in stages: Vivendi filed an offer, obtained a majority, reopened the offer, then pursued a compulsory transfer of the shares still outstanding.
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| Date and stage | What happened | Reported ownership or terms |
|---|---|---|
| February 18, 2016: offer filed | Vivendi filed a proposed public tender offer after crossing the 30% threshold. | The initial offer was €6 per share, according to Vivendi’s 2015 annual report. Vivendi 2015 Annual Report. |
| May 31, 2016: preliminary results | Vivendi announced the preliminary results of its offer. | 61.71% of share capital and at least 55.61% of voting rights. Vivendi, May 31, 2016. |
| June 7, 2016: family decision | The Guillemots said they would reluctantly tender most of their shares. | Reuters reported the family held 22.43% as of April 14, 2016. Reuters, June 7, 2016. |
| June 20, 2016: reopened offer results | Vivendi reported its ownership after the offer reopened from June 2 through June 15. | 95.94% of share capital and 95.77% of voting rights. Vivendi, June 20, 2016. |
| July 2016: squeeze-out and delisting | Vivendi said it had requested a mandatory squeeze-out of the remaining shares. | The remaining shares were scheduled to transfer for €8 cash per share, with delisting set for July 26. Vivendi, July 2016. |
The family’s resistance before the sale decision
The Guillemots did not begin by accepting Vivendi’s control. In October 2015, Gameloft publicly reaffirmed its intention to remain independent. On March 25, 2016, the company said it had filed a complaint with the Paris Court of Appeal concerning the clearance decision related to Vivendi’s takeover bid. Gameloft, March 25, 2016.
By June, however, Vivendi had obtained a majority through its offer. The Guillemot family’s choice was to tender most—not all—of its holdings rather than continue to oppose the new majority shareholder. Reuters reported the family’s stake as 22.43% on April 14; that figure describes its holding at that date, not a final post-takeover ownership percentage.
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What happened to the remaining shareholders
After the offer reopened and Vivendi reported ownership above 95%, it sought a mandatory squeeze-out. Under the terms Vivendi announced, shareholders whose shares remained were to receive €8 in cash per share, and Gameloft was scheduled to be delisted on July 26, 2016. These were the announced terms of this specific transaction, not a general valuation of Gameloft shares.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the takeover account does—and does not—show
The documented sequence explains how Vivendi moved from an offer to majority control and then to full ownership, and why the Guillemot family said it would stop resisting. It does not, by itself, establish what effect the takeover had on Gameloft’s later games or business performance.
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