Ubisoft Shares Continue Higher After Takeover Speculation

Dow Jones10-07

By Dominic Chopping

Ubisoft shares continued higher Monday after Bloomberg reported Friday that Chinese internet giant Tencent Holdings and Ubisoft founders the Guillemot family were considering a potential buyout of the company.

Shares in the Assassin's Creed maker surged following the report, closing 34% higher Friday.

The report said Tencent and the Guillemot family were consulting advisors to take the company private, citing people familiar with the matter.

Shares rose 6.3% in early European trade Monday after Ubisoft responded, saying in a statement that it regularly reviews its strategic options and will inform the market if and when appropriate.

"The company reiterates that management is currently focused on executing its strategy," it said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 07, 2024 03:56 ET (07:56 GMT)

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