Tencent and Guillemot Family Weigh Buyout of Ubisoft, Stock Jumps 10%

Oct 4, 2024, 01:51 PM

Tencent and Ubisoft's founding Guillemot family are considering a potential buyout of Ubisoft, according to Bloomberg. The Guillemot family, who are the founders of Ubisoft, are exploring options to take the French video game developer private. Following the buyout report, Ubisoft's stock jumped 10% and entered a trading halt, with $UBSFY up 29%. The company has lost half its market value in 2024. The report was detailed by Bloomberg's Vinicy Chan, Dong Cao, and Benoit Berthelot.