Day of the Jackal: Ubisoft Bids on THQ

MCV reports that Ubisoft is looking for a "bargain buy."

Holidays or no holidays, THQ has made its largest play to date to stave off oblivion with its recent Chapter 11 filing. In so doing, THQ also managed to secure capital from would-be owners Clearlake investments.

As THQ continues to develop games, the removal of the publisher's $100 million debt is part and parcel of a 'stalking horse bid' process. MCV is reporting that pursuant to Ubisoft's goal of becoming the market's No. 1 publisher, the French firm is looking to acquire THQ in one form or another. MCV further describes Ubisoft as "prepared to hold-out until THQ is forced to sell off specific assets, as happened to now-defunct Midway when it went into bankruptcy four years ago."

Source: MCV