Submission + - Square Enix to buy Eidos (custompc.co.uk)
arcticstoat writes: "After revealing that a mystery buyer had put in an offer for Eidos last month, the company behind the TOmb Raider franchise has now revealed that the potential buyer is Japanese RPG specialist Square Enix. The the directors of both companies say they 'are pleased to announce that they have reached agreement on the terms of a recommended Offer under which SQEX, a wholly-owned subsidiary of Square Enix, will acquire the entire issued and to be issued share capital of Eidos.'
The decision is now in the hands of Eidos' shareholders, and the Eidos directors say that they will 'unanimously recommend that Eidos Shareholders vote in favour of the resolutions to be proposed.' In order for the buyout to go ahead, the scheme needs to be approved by the holders of at least 75 per cent of the shares in Eidos, either in person or by proxy. Eidos' chairman, Tim Ryan, said that 'we believe that this cash offer provides Eidos Shareholders with an attractive price and certainty in today's challenging market backdrop and economic outlook.' He also added that the acquisition would 'complement Square Enix's expansion into Western markets.'"
The decision is now in the hands of Eidos' shareholders, and the Eidos directors say that they will 'unanimously recommend that Eidos Shareholders vote in favour of the resolutions to be proposed.' In order for the buyout to go ahead, the scheme needs to be approved by the holders of at least 75 per cent of the shares in Eidos, either in person or by proxy. Eidos' chairman, Tim Ryan, said that 'we believe that this cash offer provides Eidos Shareholders with an attractive price and certainty in today's challenging market backdrop and economic outlook.' He also added that the acquisition would 'complement Square Enix's expansion into Western markets.'"