Los Angeles — Ubisoft shares rose more than 30% on Friday, following news that Tencent and the Guillemot family are discussing a purchase of the video game developer.
According to Bloomberg news, Tencent and the Guillemot family, Minority shareholders, have been exploring methods to stabilize the company after it lost more than half of its market value this year. According to FactSet, shares rose 33.5% to approximately $15.57 on Friday.
Ubisoft has declined to respond. Tencent did not immediately return a request for comment.
France-based compnay is the publisher of the well-known franchise “Assassin’s Creed.” Last month, shares plunged to their lowest position in more than a decade after its latest title “Star Wars Outlaws” underperformed and the company announced that the latest “Assassin’s Creed” game would be delayed.
Ubisoft Shares Jump Following Reports Of Tencent, Guillemot Family Considering Buyout
CEO, Yves Guillemot, stated last week that the company’s “second quarter performance fell short of our expectations.”
SOURCE | AP