Square Takeover of Eidos Gets Approval
Eidos [http://www.square-enix.com/] has been given the green light by shareholders, who voted overwhelmingly in favor of the deal.
Square Enix revealed in February that it had made a Tomb Raider: Underworld [http://www.escapistmagazine.com/news/view/89401-Square-Enix-Confirms-Eidos-Bid], failed to meet sales targets, which drove the Eidos share price down by almost 30 percent.
85 percent of represented shares voted in favor of the takeover, the company revealed in a statement, and the special resolution required to move the deal forward was also approved at the subsequent Extraordinary General Meeting. Square Enix will assume control of the company when Eidos' shares are delisted, which is scheduled to take place on April 22.
There's been no indication yet from Square about its plans for Eidos' best-known franchises, such as Tomb Raider and Wedbush Morgan [http://www.hitmanbloodmoney.com/] analyst Michael Pachter said one of the major motivations for Square was the ready access to several well-established "Western-style" franchises offered by Eidos. But none of those franchises have been world-beaters in recent years and how Square plans to reverse that trend is currently an open question.
Source: GamesIndustry [http://www.gamesindustry.biz/articles/square-takeover-of-eidos-given-green-light]
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Eidos [http://www.square-enix.com/] has been given the green light by shareholders, who voted overwhelmingly in favor of the deal.
Square Enix revealed in February that it had made a Tomb Raider: Underworld [http://www.escapistmagazine.com/news/view/89401-Square-Enix-Confirms-Eidos-Bid], failed to meet sales targets, which drove the Eidos share price down by almost 30 percent.
85 percent of represented shares voted in favor of the takeover, the company revealed in a statement, and the special resolution required to move the deal forward was also approved at the subsequent Extraordinary General Meeting. Square Enix will assume control of the company when Eidos' shares are delisted, which is scheduled to take place on April 22.
There's been no indication yet from Square about its plans for Eidos' best-known franchises, such as Tomb Raider and Wedbush Morgan [http://www.hitmanbloodmoney.com/] analyst Michael Pachter said one of the major motivations for Square was the ready access to several well-established "Western-style" franchises offered by Eidos. But none of those franchises have been world-beaters in recent years and how Square plans to reverse that trend is currently an open question.
Source: GamesIndustry [http://www.gamesindustry.biz/articles/square-takeover-of-eidos-given-green-light]
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