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.