Report: Square Prepping Eidos Buyout Bid

Japanese publisher Square Enix has reportedly expressed interest in purchasing ailing British publisher Eidos, according to MCV and its anonymous source.

Square, which recently noted its intent to expand in the European and North American markets, joins the three other long-rumored suitors: Electronic Arts, Ubisoft and Warner Bros. Of the four, Warner Bros has an advantage as it already owns 20% of Eidos.

The company, which recently changed its name from SCi to that of well-known subsidiary Eidos, has long been the subject of frequent takeover rumors. Its properties include Tomb Raider, Deus Ex, Carmageddon, Hitman, and Kane & Lynch.

Across the past year, Eidos has lost $177 million and its stock has dropped by 90%, making the company an even bigger acquisition target than it was when talks began last year. Eidos later rejected a buyout offer in April 2008 from an unknown suitor.