Square Enix offered. Tecmo rejects. Baffled Square Enix responds to Tecmo’s rejection. Tecmo ignores. Square Enix pulls out. This is how the short-lived love story of the two companies panned out.
The proposed Squeenix takeover was dubbed to be a “friendly” one, offering a controlling interest in Tecmo by purchasing the company’s shares at a 30 minimum. They did also say that if Tecmo rejects the proposal, then they’ll withdraw their offer.
But first, they wanted some explanations now on the following issues:
- Please confirm that the decision on the begin of discussions with KOEI toward integration of management is the reason for rejection of the Proposal.
- If that’s 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.
- If not, please clarify that TECMO has an alternative plan, which is favorable for TECMO’s shareholders than the Proposal.