Square Enix Responds To Tecmo Takeover Rejection (Seems Baffled)

Kotaku writes: "Earlier today, Tecmo rejected Square Enix's offer of a "friendly takeover." After collecting opinions from Tecmo staffers, the company decided that merging with Square Enix was not in its best interest. Instead, Tecmo has decided to pursue a merger with Japanese game maker Koei, best known for the Dynasty Warriors franchise. Both companies hope to balance their portfolios with the merger.

When Square Enix originally announced its offer to Tecmo on August 28th, the famed RPG maker proposed offering to purchase a controlling interest in Tecmo by purchasing shares in that company at 30 percent premium. "I can only believe that our proposal will be accepted," said Square Enix president Yoich Wada (pictured) at press conference that same day. "I hope."

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mohib-uddin79865324329d ago (Edited 4329d ago )

Square-Enix has changed

Eveytime you expect soemthing BIG from them they dissapoint

supremacy4329d ago

but i also feel, that squarenix is a much bigger company twice the size of these two small companies trying to merge, if anything i think tecmo is stupid for rejecting this offer.

to join another mediocre company with not much outside of one franchise, if i were tecmo i would have looked at other companies and see whats out there first before committing to such a thing.

Koei isn't as profitable of a company as squarenix is. never has been and probably never will be either.

this is obviously a thing of control and power, maybe a merger is better than being fully owned.

this new merger now ring is what 3 games we can think off? lol thats sad.

i think a company like konami could have worked out better if you ask me or even capcom or sega sammy. i don't know just my opinion. but koai? now thats laughable if were talking from a worldwide perspective.

mikeslemonade4329d ago

Both companies are not what they use to be. They are both money first and gamer 2nd.

Panthers4329d ago

They are becoming the eastern EA. At least the main FF franchise still seems good. Especially Versus 13.

jay24329d ago

Square Enix Takes "No" For An Answer, Withdraws Takeover Offer

Jilted, scorned. Square Enix has just announced it is withdrawing its offer to Tecmo of a "friendly takeover". That is, after Tecmo rejected the offer and then announced plans to integrate its company with Dynasty Warriors creator Koei. While Square Enix originally stated it would withdraw the offer if rejected, the company issued a series of questions to Tecmo rejecting the company's decision to turn down the offer. Square Enix never received answers to those questions. According to Square Enix's withdrawal statement:

The Company yesterday received a written notice of the rejection of the Proposal from the board of directors of TECMO. Followed by the notice, the Company immediately requested TECMO for explanation of some issues to receive no response to it, even reasons of the rejection.

Under such circumstances, the Company is unable to make appropriate modifications to major terms of the Proposal including the TOB price, and determines that it is extremely difficult to continue the discussions with TECMO based on the Proposal. The Company, therefore, has decided to withdraw from the Proposal.

Square Enix turned down by Tecmo for Koei and then ignored? Ouch.

Good for you Tecmo, stay indipendante.

SL1M DADDY4329d ago

In which case, would prompt them to stay away from SE.

kesvalk4329d ago

i don't think they have decency, heck they made Dead or Alive "extreme" Beach Volleyball man!

SL1M DADDY4329d ago

I digress and give you bubbles for making a good point. lol

arngrim2294329d ago

um koei????? koei sux, dynasty warriors sux, why wud they fuse??? what is hayabusa gonna be playable in dynasty warriors 13??? wtf this sux