Vivendi Closing In on Seagram Acquisition

French conglomerate company Vivendi and its Canal Plus TV unit edged closer to an acquisition of famed Canadian liquor and entertainment company Seagram Co. for about $33 billion in stock. The companies said in a joint statement they hoped to formally announce a deal as soon as Tuesday. A union of the three companies would join Seagram’s entertainment assets, which include Universal Pictures, with the growing telecommunications and Internet infrastructure being developed by Vivendi. “The negotiations initiated by Vivendi with Seagram and Canal Plus, which could result in an alliance of the three firms, have now entered their final stage,” the companies said. Both companies were expected to vote on a deal at separate meetings today. The boards held sessions on Sunday and the Seagram board also met Saturday for an informational update, said sources close to the talks. “We’re not done yet. We still have some issues that need to be addressed,” said one source who spoke on condition of anonymity. The source did not specify the nature of those issues. Representatives of Vivendi and Canal Plus continued over the weekend to conduct due diligence on Seagram’s operations, the sources said.