Square Enix (Final Fantasy) has reportedly placed a bid to buyout Tecmo (Ninja Gaiden). Tecmo has recently come under some financial hardships after a series of employee borne lawsuits and the resignation of their former president.
Square Enix hopes to obtain a controlling interest in the company. They placed a bid that equates to a 30% premium over the August 28th closing stock price of 708 yen ($6.52 USD), citing an interest in "attractive IPs, capable development staff, and global approach to creating games" for the buyout reasons.
According to a press conference that took place yesterday, Square Enix president, Yoichi Wada, stated that he has been in acquisition talks with Tecmo since May of 2008. These plans were discussed with former Tecmo president, Yoshimi Yasuda. Talks have then continued with the current president and board chairman, Yasuharu Kakihar.
You can read more about the recent Tecmo troubles right here.
Source
Square Enix hopes to obtain a controlling interest in the company. They placed a bid that equates to a 30% premium over the August 28th closing stock price of 708 yen ($6.52 USD), citing an interest in "attractive IPs, capable development staff, and global approach to creating games" for the buyout reasons.
According to a press conference that took place yesterday, Square Enix president, Yoichi Wada, stated that he has been in acquisition talks with Tecmo since May of 2008. These plans were discussed with former Tecmo president, Yoshimi Yasuda. Talks have then continued with the current president and board chairman, Yasuharu Kakihar.
You can read more about the recent Tecmo troubles right here.
Source