EIDOS SETS OUT ACQUISITION TIMELINE
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[ March 5th 2009 ]

Eidos has announced a timeline by which it hopes the forthcoming acquisition by Square Enix will be complete. Shareholders will be called to an EGM on March 25th in order to vote on the proposed acquisition with shares being suspended on 21 April. Providing all events run smoothly, Square Enix hopes to have full ownership of Eidos plc by 6 May.

Japanese video-game maker Square Enix Holdings earlier this year 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. "