This is still trading less than 17% below where it was just two years ago; meanwhile they've grown their library, ported to more platforms and more languages, and increased their customer base. Somehow management let shareholders down for two years straight, the first sign of life being Vivendi's interest, so can can management say that this is bad for shareholders??? The addition of someone other than family, someone who has the best interest of 'all' shareholders (not just family), now that is a welcome addition!!! I know the family has built a great company but the share price drop prior to Vivendi's interest makes one wonder if the family wasn't using Gameloft as its own private piggy bank. How could their games be at the top of so many charts while the company generated losses? That doesn't seem very accountable to shareholders... If the family is worried and wants to correct things then make shareholders a tender offer. I bet most would accept 15 euros per share. Personally, I'd hold out for at least 20 euros per share. If King Entertainment is worth six billion nine hundred thousand dollars to Activision then Gameloft should be worth more than half that. Their current market cap is a joke which is why investors have been giving their shares away to Vivendi. Of course, savvy investors know that Gameloft is worth more than King; it's just a matter of monetizing their better franchises.
I believe that gives them more voting power than the entire management team and makes them the biggest single shareholder. They are also saying that they want a seat on the board and have not ruled out taking over GameLoft