Tecmo Rejects Square Enix Takeover (Updated) |
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Tecmo has just released an official statement where they reject Square Enix's "friendly" takeover offer. The Tecmo Board of Directors had until today to approve or reject the offer. Here's a translation of the statement released by Tecmo: "For Tecmo, this proposal was received in a short span of time, but within the company, we collected opinions from management and game creators as well as a wide range of employees. In our companies source of revenue, as a result of a guarantee with our capable workers, a guarantee of steady game development and the preservation of our brand, there is a high possibility of improvement. However, we did not arrive to agree to this proposal, and thus, our Managing Board declines the offer. Stockholders, clients and customers, please continue your favor towards our company." Update: Square Enix has posted a resonse to Tecmo's rejection of the offer. You can read it here.
User Comments (5 latest)
 by V_Translanka the 5th September 2008 at 01:07 AM
Awwwww...I knew it was too good to happen, what with the new installments of Tecmo Super Bowl for DS
by kweh! the 5th September 2008 at 01:23 AM
Apparently SE is asking for a clearer explanation of why the offer was rejected.
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