Back before Square Enix rescinded its friendly Tecmo takeover bid, we first broke the news that RPG maker was baffled. Tecmo rejected its offer in favor of merging with Dynasty Warriors company Koei. Most curious. Square Enix had three questions for Tecmo:
1. Please confirm that the decision on the start of discussions with KOEI toward integration of management is the reason for rejection of the Proposal.
2. If that is the case, please clarify concretely that major terms of integration of management with KOEI (form of the integration, stock prices assumption, integration ratio and so forth) are favorable for TECMO's shareholders than the Proposal.
3. If not, please clarify that TECMO has an alternative plan, which is favorable for TECMO's shareholders than the Proposal.
Tecmo didn't answer these questions until today. We've translated that, after the jump.
Square Enix announced its proposal last week to acquire a controlling stake in Tecmo. While the bid was set to expire later today, Tecmo formally rejected the offer this morning, as they believe a merge with Koei would be more fitting.
From the released statement, translated by Reuters:
Through a merger, we expect we can grow further by respecting both companies’ identities and having an environment in which employees can fully exhibit their skills.
Koei, eh? Makes sense. Tecmo is popular here in the West with titles like Ninja Gaiden and Dead or Alive, while Koei is well-known for its Dynasty Warriors series, which is a huge hit in Japan.
So a merge would give them significant market share in both countries. Given the current state of the company, it’s rather surprising that Tecmo passed up on Square’s offer indeed.
An anonymous industry source has decided to set a few things straight about an earlier report that stated Sony was working on a new PS3 controller that can "break apart into two separate units, each of which contains an accelerometer for Wiimote-like motion-sensing functionality."
The source stated: The control system actually consists of a smaller-sized device that can attach to the body - and multiple devices are intended to be used in concert, such as wearing two on the hands to move a character's hands in-game, or four, on hands and feet at the same time to move a character's body.
To quote: Though the source admits the technology might have evolved since the last time it was seen, the source disputes the idea that any of these pieces merge to form a single controller.
It is also unclear how the individual pieces will be packaged, whether individually or in sets.
Atari, soon to officially merge with French-based publishing house Infogrames, announced today that industry vet and former Capcom sales exec Tim Flynn has joined the company as senior VP of sales, effective immediately.
Mr. Flynn has more than 30 years of sales and retail experience in the video game and technology industries with companies including Capcom, Hip Interactive, Sega and Psygnosis. He brings to Atari, Inc. a proven sales and management record having successfully led the re-building and growth of numerous sales organizations.
Flynn previously held the same role of sales VP over at Hip Interactive. Prior to that he spent four years at SEGA’s North American offices, assuming the responsibility of sales director.
To quote: US, June 9, 2008 - Atari, Inc. (OTC Pink Sheets: ATAR), an interactive entertainment company, announced today the appointment of Tim Flynn as its Senior Vice President of Sales, effective immediately, reporti... More »
Activision boss Bobby Kotick has expressed concerns about the possibility of a merge between EA and Take-Two.
"That's concerning, sure," he told Reuters. "When you think about one company in control of the sports category, with no competition from anybody else, that could be a challenge."
That the deal would also knock the Activision-Vivendi deal out of the Guinness Book of Records is also playing on his mind, we'd wager.
The $18 billion deal currently stands as biggest in the history of video games, but it's expected that an EA / Take-Two merge would be worth significantly more. Now that GTA IV is out, talks between the two companies are expected to start soon.
(0) 
