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Square Enix Makes Tecmo Takeover Bid

Monolithic Japanese developer Square Enix today made a "friendly" offer to acquire a controlling stake in Ninja Gaiden and Dead or Alive developer Tecmo, reports Kotaku.

Tecmo has until September 4 to accept or decline the offer, which would see Square purchase a controlling stake at a 30% premium over current stock prices. The two have apparently been discussing the possible takeover since May, with Square Enix adding that it will not continue to pursue its takeover of Tecmo if the offer is rejected.

"Tecmo is a group of excellent creators with proven track-record in the global market, which is a precious human resource of Japan," reads a statement from Square Enix. "We, however, cannot be optimistic about the future of this significant resource, given the current circumstances surrounding Tecmo."

Tecmo recently saw the resignation of president Yoshimi Yasudam, with recent lawsuits accusing the company of denying promised bonuses to famed game designer Tomonobu Itagaki and refusing to pay its staff overtime.

It marks the latest attempt at expansion from Square Enix, which was formed in the 2003 merger of acclaimed Final Fantasy creator Square and Dragon Quest developer Enix. The company then purchased Space Invaders owner Taito in 2005.

Chris Faylor was previously a games journalist creating content at Shacknews.

From The Chatty
  • reply
    August 29, 2008 8:16 AM

    Dead or Alive Final Fantasy Edition! You know you want it...

    • spl legacy 10 years legacy 20 years
      August 29, 2008 9:33 AM

      All the big boobs are replaced with big heads? =/

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