Square Enix makes bid to takeover Eidos
Japanese firm attempts to acquire UK publisher
It has been confirmed that Square Enix has bid to acquire Eidos for a sum of GBP 84.3 million, which has sent the share price of the UK publisher soaring.
The Eidos board of directors will be recommending the offer to shareholders of the company, of which 75 per cent must give their approval for the takeover to happen.
If the deal goes ahead, Eidos PLC would be acquired by Square Enix holding company SQEX ltd for a premium of 123 per cent over the current market value of the firm.
In the announcement, Square Enix President Yoichi Wada stated: "Eidos is a talented developer and publisher of interactive entertainment products with a broad portfolio of highly successful mass market franchises, led by Tomb Raider, one of the most successful videogame franchises of all time."
Eidos CEO Phil Rogers commented: "Eidos has a strong portfolio of established franchises, with highly talented employees. Square Enix recognises this and sees Eidos as both complementary to their business as well as a valuable brand within videogames."
