Tecmo Turn Down Square Enix's Friendly Takeover

Tecmo Turn Down Square Enix's Friendly Takeover

Posted on 2008/09/04 by Ronin90

After last week's rather surprising news that Square Enix were reported to be offering to buy Tecmo for £100m ($200m) in a "friendly" takeover bid, things have taken an even more interesting twist. Square Enix placed a firm deadline of the 4th of September on their offer and Tecmo have responded with their decision.

Their decision is that they have decided to reject the proposal outright and Tecmo president Yasuharu Kakihara claims that he will not be entertaining another bid from Square Enix.

Had Square Enix managed to seal the takeover, they would have been able to gain a much larger foothold in the Western gaming industry, as Tecmo have titles such as Ninja Gaiden and Dead or Alive, which have strong followings. However, Tecmo have decided that they will enter into talks with Koei instead - makers of the famous Dynasty Warriors franchise.