Shares of video game publisher Ubisoft jumped over 30% Friday following reports that Tencent and the Guillemot family are considering a buyout. Bloomberg News reported that the discussions aim to stabilize the company after it lost more than half its market value this year.
FILE - The logo of French video game publisher Ubisoft is pictured at the Paris games week in Paris, Nov. 4, 2017. LOS ANGELES — Shares of Ubisoft jumped more than 30% Friday, following reports that Tencent and the Guillemot family are considering a buyout of the video game maker.
Bloomberg news reported that Tencent and Guillemot family — minority stakeholders in Ubisoft — have been discussing ways to stabilize the company after it lost more than half its market value this year. Shares surged 33.5% to about $15.57 Friday, according to FactSet.France-based Ubisoft is the publisher behind the well-known franchise “Assassin’s Creed.
Yves Guillemot, Ubisoft’s CEO, said in a statement last week that the company’s “second quarter performance fell short of our expectations.”
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