Square Enix Confused By Tecmo's Take-Over Refusal

Gothic Girl | September 04, 2008 | News | Company

When Tecmo refused Square Enix's take-over offer yesterday, it was assmed that was the end of the matter, as Square Enix had previously announced they would withdraw the offer if it were refused.

However, it seems that is no longer the case, with Square Enix now requesting reasons as to why Tecmo refused ... and seeming genuinely confused by it ...

When Square Enix originally announced its offer to Tecmo on August 28th, the famed RPG maker proposed offering to purchase a controlling interest in Tecmo by purchasing shares in that company at 30 percent premium. "I can only believe that our proposal will be accepted," said Square Enix president Yoich Wada (pictured) at press conference that same day. "I hope." If the plan was rejected by Tecmo (and it was), Square Enix originally stated: "We will withdraw our offer."

Apparently, Square Enix is having a problem taking no for an answer as the company just released a statement:

quote Square Enix
The Company immediately requested TECMO for explanation of some issues as follows:

1. Please confirm that the decision on the start of discussions with KOEI toward integration of management is the reason for rejection of the Proposal.

2. If that is the case, please clarify concretely that major terms of integration of management with KOEI (form of the integration, stock prices assumption, integration ratio and so forth) are favorable for TECMO's shareholders than the Proposal.

3. If not, please clarify that TECMO has an alternative plan, which is favorable for TECMO's shareholders than the Proposal.

The Company will make definitive decision on its plan immediately after receiving a response from TECMO.

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Comments

3 thumbs!
Bale Fire | September 05, 2008

Not everyone is willing to bow to you Square Enix
0 thumbs!
iLLmatic | September 05, 2008

haha they thought this was feudal Japan or what? Not anyone will just bend over and take it because you have more money.
0 thumbs!
Zerpent | September 05, 2008

Well, I'm kind of sad that Tecmo didn't accept their offer. It could very well have become very beneficial for both companies.
0 thumbs!
Storm | September 05, 2008

SquareTecmoEnix?

I'm rather confused as to why SE would want Tecmo under their wing. Is it to get some crossovers or something going? FF meets DoA? Is Monty Oum behind this? :S RPG genre-based company and a fighter genre-based company doesn't really mix, but eh, good for Tecmo to keep 'independent.'
- 1 thumbs!
  BlackLabel | September 06, 2008
  
  Square Tecnix, has a nice ring to it lol.
1 thumbs!
Seeker X | September 06, 2008

Wasn't Tecmo like...going down the shitter or something? And isn't this merger like...taking it OUT of the shitter?
- 0 thumbs!
  Final Blade | September 06, 2008
  
  _{Guess you missed the memo where its apparent Tecmo really does want to be in the shitter. I mean not accepting this is one way ticket to dooms ville tbh.
  
  I hope Tecmo see's the light soon and understand that this is the best offer that will not only help SE but ultimately Tecmo as well. Guess Ninja Gaiden and Dead or Alive is truly dead}
  - 0 thumbs!
    Gothic Girl | September 06, 2008
    
    quote
    Guess Ninja Gaiden and Dead or Alive is truly dead
    ... and Fatal Frame
0 thumbs!
Bale Fire | September 06, 2008

Well Tecmo has had some problems and I guess Square thought they could capitalize on their misfortunes. Guess they have something up there sleeve though, like that rumored merger with Koei (sp?)