The founding Guillemot family has surrendered to the inevitable and is preparing to sell its Gameloft shares to Vivendi.

Split between individuals and the family company, they held 22% of total shares and 30% in terms of voting rights.

But when Vivendi announced its hostile takeover had gained the support of 62% of shareholders (and 56% of the voting rights), there was nothing further the Guillemots could do but sell with what they call "regret".

Sweetener

One consolation is the payoff of around $170 million.

Gameloft CEO Michel Guillemot, who had a 5% stake, will resign the company he founded and ran.

Ironically, before Vivendi started buying shares in Gameloft, that shareholding was worth around $14 million.

That's to Vivendi's offer of €8 per share, now it's worth $35 million.

"The family maintains that Vivendi's hostile approach goes against the best interest of Gameloft, both for its activity and for its teams," it said in a statement to the Wall Street Journal.