Square bids £84.3 million for Eidos

By Patrick Garratt, Thursday, 12 February 2009 09:04 GMT

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Square Enix has made official an £84.3 million bid for Eidos.

The Eidos board has agreed to recommend the offer to shareholders, which is worth 32 pence per share.

The price represents a premium of 258 per cent over the price at the time the offer was made, January 14, and a premium of 91 per cent over the price average of the last three months.

Said Square boss Yoichi Wada: “Eidos is a talented developer and publisher of interactive entertainment products with a broad portfolio of highly successful mass market franchises, led by Tomb Raider, one of the most successful videogame franchises of all time.

“Eidos maintains a strong reputation for high quality development and proven expertise in creating characters and storylines that appeal to consumers. Eidos’ products are highly complementary to our business and will accelerate our aggressive expansion into Western markets.

“We believe that wide range of both companies’ quality products encompassing major genres will enable us to meet diversified customers’ expectations upon a global basis.”

This is all part of Square Enix boss Yoichi Wada’s push to go “global”.

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