Square Enix subsumes Taito
Taito will become a subsidiary of Square Enix starting September 28; move costs Square $565 million.
TOKYO--Square Enix today announced it has successfully acquired Taito through its agreed takeover bid. Square Enix hoped to acquire at least 67 percent of Taito's stock (247,900 shares), but was able to get a hold of 93.7 percent of all shares issued by the company (346,689 shares). Effective September 28, Taito will become a wholly owned subsidiary of Square Enix.
Last month, Square announced its intentions to initiate a friendly takeover of Taito. The company offered to pay a 12-percent premium over Taito's closing share price on August 22. Square Enix said it would rescind the tender offer if it failed to acquire at least 67 percent of Taito stock between August 22 and September 21, but it would seek alternate takeover methods if it failed. Square Enix's acquisition of Taito's 93.7 percent share is expected to cost approximately 62.79 billion yen ($564.74 million).
Content you might like…
-
Square Enix closes on Eidos, Final Fantasy sells 85 million
RPG-heavy Japanese company completes its acquisition of UK publisher; sales breakdowns also reveal Dragon Quest sells 47M, Tomb Raider 30M.
- Apr 23, 2009
Users who looked at this article also looked at these content items.
Hot Stories
Newsmakers
-
Mass Effect 2 Interview: Adrian Askarieh
EA producer discusses the latest revelations about BioWare's upcoming sci-fi role-playing game. Full Story
- Posted Nov 10, 2009 11:17 am PT
-
Visually impaired gamer sues Sony Online
Refusal to implement or facilitate changes to make online games more accessible violates Americans with Disabilities Act, suit claims. Full Story
- Posted Nov 6, 2009 3:48 pm PT
- 1225 Comments
Featured Stories
-
Modern Warfare 2 sells 4.7 million in 24 hours
Activision and Infinity Ward's shooter claims largest entertainment launch crown with $310 million in UK, US, and Canadian sales; North American day-one sales hit 3.38 million. Full Story
- Posted Nov 12, 2009 11:02 am PT
- 280 Comments
-
C&C4: Tiberian Twilight falls in March
Final installment of the Tiberium saga heading to PC on March 16 in North America, March 19 in Europe; preorder incentives include exclusive bonus mission and early access to beta program. Full Story
- Posted Nov 12, 2009 8:14 am PT
- 36 Comments
-
Prince of Persia film could generate $2.7 billion-plus - Ubisoft
CEO Yves Guillemot and Jake Gyllenhaal-led action film franchise may generate more than Pirates of the Caribbean; French publisher investing more in game development. Full Story
- Posted Nov 12, 2009 1:37 pm PT
- 114 Comments
-
Xbox Live purged of up to 1 million users - Report
Information Week estimates Microsoft may have suspended 5% of service's subscribers for using modded Xbox 360s--which are now flooding Craigslist. Full Story
- Posted Nov 11, 2009 2:31 pm PT
- 465 Comments
-
Natal release date, price leaked?
British reports peg the Xbox 360's motion-sensing peripheral as launching next November at an artificially low £50 (approx. $83) price point; 5 million-unit initial shipment expected. Full Story
- Posted Nov 11, 2009 11:31 am PT
Submit News
Recent News
-
Final Fantasy XIII due March 9
Square Enix's latest J-RPG headed to North America and Europe in early 2010, Leona Lewis' "My Hands" named as theme song; new trailer inside.
1 Comments
Sign in / Sign up