Square Enix to Acquire Eidos Pending Shareholder Approval

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EidosLast month, Eidos acknowledged that it had been approached (again) as a potential acquisition target. Today, Eidos announced that it has a firm offer from Square Enix (actually, from SQEX, a wholly-owned subsidiary of Square Enix) to purchase Eidos, and that Eidos recommends shareholders accept the offer.
Square Enix is offering 32 pence per share (in cash) to acquire Eidos, valuing the company at £84.3 million (around $120 million). The offer comes at a substantial premium to the price at which Eidos' shares have traded recently. While 75% of Eidos shareholders have to approve the acquisition to move forward, major shareholders – Warner Bros. Entertainment (20%) and Insight Investment Management and Cazenove Capital Management (13%) – have already given their approval.

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This page contains a single entry by Editor published on February 12, 2009 1:27 AM.

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