Square Enix Will Own Eidos By May
We haven’t commented on the whole Square Enix / Eidos saga for a while but suffice it to say that their £84 million bid back in February 2009 is going extremely well. Not only was it backed by the major shareholders such as Time Warner who owns 20% of Eidos but other major parties have also backed the purchase.
According to MCV The £84 million bid offers Eidos shareholders a premium of 129% on their current market value which in this climate would be hard to reject. In fact according to MCV sources Eidos has further agreed to buyout terms from Square Enix which could see the british publisher transfer full ownership rights as early as May 2009.
Although the deal still needs official approval at the Eidos EGM, Square Enix holds strong backing from over 45% of the major shareholders which means it’s highly unlikely that the plans would be rejected.
We’ll keep you updated on any further updates, but this is one aquisition that will truely help Square Enix gain a strong foothold in the highly lucrative western gaming market.
This is awesome. I can’t wait to see what they’ll come up with and perhaps this will speeden up some development in Square Enix so they can finish Final Fantasy XIII and finally get moving into Kingdom Hearts 3.
Oh wow… That’s intense!
I cant really say if this is beneficial for Square or not. Regardless, with Eidos under their control, they’ll have lots of interesting projects coming along to be sure.