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Square Enix to Acquire Taito
posted on by Christopher Macdonald
Friendly Bid to Acquire Taito Share at a 20% Market
Kyocera, which owns a 36% stake in Taito s the takeover bid and has agreed to sell its share back to Taito to facilitate the acquisition.
Square Enix is offering 181,100 yen per share, a 20 percent over Taito's 6-month average market price. If Square Enix is able to reach agreements with Taito and its shareholder to acquire 67% of Taito shares it will acquire the shares and then begin procedures to turn Taito into a wholly-owned subsidiary. Failing to purchase the 67% ownership, Square Enix still intends to acquire Taito though other means.
Market conditions have lead to several anime/gaming related mergers in the last 2 years. Square merged with Enix to form Square Enix, Tomy.
Square Enix is offering 181,100 yen per share, a 20 percent over Taito's 6-month average market price. If Square Enix is able to reach agreements with Taito and its shareholder to acquire 67% of Taito shares it will acquire the shares and then begin procedures to turn Taito into a wholly-owned subsidiary. Failing to purchase the 67% ownership, Square Enix still intends to acquire Taito though other means.
Market conditions have lead to several anime/gaming related mergers in the last 2 years. Square merged with Enix to form Square Enix, Tomy.
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