SQUARE ENIX TO BUY EIDOS INTERACTIVE
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[ February 12th 2009 ]

Japanese video-game maker Square Enix Holdings has agreed in principle to buy Eidos Interactive for $121 million. A statement released by the company confirms both Eidos and Square have agreed a deal, subject to shareholder approval.

"The SQEX Directors and the Eidos Directors are pleased to announce that they have reached agreement on the terms of a recommended Offer under which SQEX, a wholly-owned subsidiary of Square Enix, will acquire the entire issued and to be issued ordinary share capital of Eidos. The Offer is to be effected by means of a scheme of arrangement under the Companies Act 2006.

"Square Enix believe that the acquisition of Eidos represents a highly attractive opportunity for the Square Enix Group to create further value for the Square Enix Group's shareholders. "