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Square Enix Makes A $120 Million Bid To Acquire Eidos

Posted by Mavrik | Filed under Gaming

Square Enix has announced that an agreement has been reached with the board of Eidos, by which Square will purchase the British publisher for £84 million (USD$120 million).

According to Square, that’s a premium of 129% over Eidos’ current market value. Despite being agreed to by the execs at both companies, for the deal to go through it has to be approved by 75% of Eidos’ shareholders at the company’s next meeting, which will take place early next month. Which it should, since the Eidos board are going to recommend shareholders sell up.

Oh Square. You look a little…desperate! Shifty delays, downward-looking finances and now buying a company that hasn’t really had much going for it in awhile like… Tomb Raider (dying a slow painful death), Hitman (gathering dust), and…Kane & Lynch?

Full details on the announcement below.

[Kotaku]

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Tags: Eidos, Gaming, Hitman, Kotaku, Square-Enix, Tomb Raider