Published on August 29th, 2008 | by Daniel David9
Square-Enix Planning To Takeover Tecmo
Square-Enix announced plans to take over Tecmo today.
Square-Enix will purchase Tecmo stock at a rate of 920 yen per share, representing a 30% premium over Tecmo’s August 28 closing price of 708 yen.
Square-Enix gave reasons to this decision for Tecmo’s ability to make games for worldwide audiences. Despite the recent troubles with former Team Ninja producer Tomonobu Itagaki they hope things will go well.
If everything goes to plan and Tecmo’s higher-ups agree to the terms by September 4th then Tecmo will fall under Square-Enix. If not they will withdraw the offer and not attempt a buyout.
I don’t think anybody saw this coming. If this goes through I wonder what will happen to games like Dead or Alive or Ninja Gaiden. Given Tecmo’s current state this friendly takeover may not be a bad idea.