Square Enix confirms Tecmo bid

In a press recent press release, Square Enix have confirmed that they have placed a bid to aquire TECMO, Ltd. Square Enix have offered a friendly take over bid worth 920 yen per share (approx $8), offering a 30% premium to closing stock as of August 28th 2008.

Under the proposal, Square Enix are looking to make TECMO a wholly-owned subsidiary of the company. Effectively this would maintain TECMO's current organisation and brand. In the press release, Square have stated the current circumstances at TECMO as their reason for the offer, and a will to see Japanese game creators through a 'critical juncture whether it continues to be a center of [the] video game industry in the world, or not'.

Square Enix have set a deadline of Thursday 4th September for their offer to be responded to. Watch this space for more as it comes!

View: Square Enix Press Release

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This better not mean the next Ninja Gaiden will have 140 hours worth of CGI movies, 5 hours of gameplay and character "stats" for Ryu.

I will seriously go postal.

Why hasn't anyone else made a bid if Tecmo is so bad off as it sounds? Like, you know, MS maybe? I seriously wonder sometimes why they don't snatch up more of the smaller 3rd party developers. Don't change anything, or even fold them into MGS, just have them work like they have been but for you.

It sounds like SE is going to do just the same, not changing tecmo at all, it'll stay as it has been, just under SE so they have the support money wise not to close shop.

So does this make them Square Tecmo Enix? :P

I'm starting to think SE is getting just a little too big...

I think it would be a smart move on Square's part. They really do need to branch out from just doing RPGs. It would help them become a little more rounded as company.