An Ubisoft shareholder is planning a protest outside the company’s Paris offices after it claims the studio failed to disclose meetings regarding a potential acquisition.
First reported by IGN, AJ Investments, a firm with less than a 1% stake in Ubisoft, says that studio is “horribly mismanaged by current management”. In addition, the firm’s CEO Juraj Krúpa says that the company failed to disclose reported meetings with EA and Microsoft, among other interested parties, regarding potential acquisition of Ubisoft IPs.
Krúpa says that the company didn’t “appropriately” communicate its plans or talks with shareholders. Because of that, he is calling those “who are frustrated with the prolonged stagnation in Ubisoft’s stock performance and the lack of decisive action from the management team” to join them in protest in May.
Krúpa added that AJ Investments is ready to sue Ubisoft for “misleading investors”. He did add, however, that they are aware of Ubisoft management having a financial review of various strategic options that is being advised by Goldman Sachs and JP Morgan
In a statement given to IGN, Ubisoft restated its past messaging that reviews of strategic and capitalistic options is ongoing at the company.
“The Board has established an ad-hoc independent Committee to oversee this formal and competitive process, so as to extract the best value from Ubisoft’s assets and franchises for all stakeholders,” the company said. “Ubisoft will inform the market in accordance with applicable regulations if and once a transaction materialises.”
What do you think of the latest developments surrounding Ubisoft, a shareholder planning a protest, and potential acquisitions, in some way, from EA, Microsoft, or another company? Let us know down below, and join the discussion in the official Insider Gaming Forums.
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Don’t forget employees are suing the company for toxic workplace and it’s bad like grapey bad. Shareholder should have been done this or sold off years ago. Square Enix I feel has to feel the same wrath in Japan soon.
Just agree to sell off Ubisoft to EA. Tencent needs to drop their shares in Ubisoft and buyout Epic Games then Kadokawa.
Am sure Ubisoft will revisit this remark after the flop of AC Shadows.