Square Enix drops Tecmo bid

Less than 24 hours after Tecmo said no thanks to its $200 million offer, Square Enix has officially withdrawn it.

Initially, the Japanese role-playing game giant didn't rule out a hostile bid for Tecmo. However, the day the Ninja Gaiden maker announced it was pursuing a union with Dynasty Warriors publisher Koei, Square Enix president Yoichi Wada threw in the towel.

"If they truly dislike Square Enix, there is no point," Wada told the Reuters news service. "All [game] creators would leave the firm the moment the deal was done. It would be the equivalent of buying a building."

But while the Tecmo takeover may be dead, that doesn't mean the minds behind Final Fantasy XIII aren't laying plans for other buyouts or mergers. "We are talking with quite a few companies in and outside of Japan," said Wada.

View: Full Story @ Gamespot UK

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The thing is they are looking for a merger not a buyout, With a merger they get to keep their identity (as Square and Enix did when they merged to become Square Enix) while a buyout would pretty much get rid of the company

Exactly! That's the whole point here. Tecmo and Koei are around the same size and make more or less the same types of games as well. It's the better fit. When squaresoft and Enix merged they both made the same types of games, RPGS.

I think Tecmo could have learned a lot more from Square than it will ever learn from Koei...

I mean, seriously, Koei? I'd much rather snuggle up to Square than them. They're not horrible, but they're certainly not great either.