Tecmo was offered 200million by Square Enix but was rejected. For those who are uninitiated, Sq. Enix are developers of games such as Dragon Quest and Ninja Gaiden and to be merged with them could be a very lucrative venture but who knows, chances are Tecmo are not interested in its rival’s generous offer and has showed interest in Koei another Japanese label famed for Dynasty Warriors.
Last week, Square Enix sent waves through the game industry by announcing a “friendly” offer to buy Tecmo for around $200 million. The unsolicited bid would’ve added the action games of the troubled latter, which includes the Ninja Gaiden and Dead or Alive series, to the massive role-playing portfolio of the former, which features the Final Fantasy and Dragon Quest series.
While Square Enix’s offer put a generous 30 percent premium on Tecmo’s stock, it also had a firm deadline of Thursday, September 4. Today, Tecmo President Yasuharu Kakihara rejected it outright, according to the Reuters news service. Instead, the publisher announced is in talks to merge with another Japanese game label, Dynasty Warriors-maker Koei.
“Through a merger, we expect we can grow further by respecting both companies’ identities and having an environment in which employees can fully exhibit their skills,” the two companies said in a joint statement. Kakihara also said he would not consider another offer by Square Enix, which is considering its next move.