industry news
Square Enix Takes 'No' For An Answer, Withdraws Takeover Offer
Posted by Brian Ashcraft at 11:00 AM on September 5, 2008
Jilted, scorned. Square Enix has just announced it is withdrawing its offer to Tecmo of a "friendly takeover". That is, after Tecmo rejected the offer and then announced plans to integrate its company with Dynasty Warriors creator Koei. While Square Enix originally stated it would withdraw the offer if rejected, the company issued a series of questions to Tecmo rejecting the company's decision to turn down the offer. Square Enix never received answers to those questions. According to Square Enix's withdrawal statement:
The Company yesterday received a written notice of the rejection of the Proposal from the board of directors of TECMO. Followed by the notice, the Company immediately requested TECMO for explanation of some issues to receive no response to it, even reasons of the rejection.
Under such circumstances, the Company is unable to make appropriate modifications to major terms of the Proposal including the TOB price, and determines that it is extremely difficult to continue the discussions with TECMO based on the Proposal. The Company, therefore, has decided to withdraw from the Proposal.
Square Enix turned down by Tecmo for Koei and then ignored? Ouch.

Comments (AU Comments · US Comments)
There are currently no AU comments for this post.
race
Posted 11:36 AM 5/9/08
@element7: Nope more like SAMURAI WARRIORS XXXXXXXXXTREME L BLACK with Hayabusa.
race
jackfrost132
Posted 11:34 AM 5/9/08
@Amazon_Chris: you want bad? Have you ever played Tecmo's Deception? The game you needed to unlock moo in MR1, now that is bad, curse those cages of confinement
@Candlejack: Agreed, The Prince from Versus looks emo as hell.
jackfrost132
Ronin_Okami
Posted 11:34 AM 5/9/08
@ amazon.....bad isnt even the begining of what their games are. i would have preferred from software taking them over than koei
Ronin_Okami
element7
Posted 11:34 AM 5/9/08
Dynatsy Warriors w/ Ryu Hayabusa?
element7
animexplorer
Posted 11:32 AM 5/9/08
haha my curse for SE is working! expect financial problems at SE in the near future.
animexplorer
GT-Sythis
Posted 11:32 AM 5/9/08
To add insult to injury, they are stupid enough to SELL the FFXIII demo.
Seriously folks, is this what the great Squaresoft has turned to?
GT-Sythis
Amazon_Chris
Posted 11:27 AM 5/9/08
Why the hell would they want to be a part of Koei? Their games are...put simply...pretty bad.
Amazon_Chris
Moonshadow101
Posted 11:26 AM 5/9/08
How very respectful.
Moonshadow101
Ryodestined
Posted 11:24 AM 5/9/08
It would have been really cool to see a Dead or Alive RPG or FF guys in Ninja Gaiden. There is always another chance.
Ryodestined
badmoogle
Posted 11:23 AM 5/9/08
He's not so imperial anymore isn't he?:(
badmoogle
wahlumsurfer
Posted 11:23 AM 5/9/08
@JetPogi: @Spartan1308™:
Probably the TECMO name would just dissappear. Like they did with Taito.........anyone remember them?
wahlumsurfer
maraxusofk
Posted 11:19 AM 5/9/08
The title seems specifically targeted at EA's hostile takeover attempt.
maraxusofk
Xagest
Posted 11:19 AM 5/9/08
Come on guys, this is a take over, not a merger. SquareEnix would stay SquareEnix, and TECMO would become BITCH.
Xagest
Rauzaruke
Posted 11:18 AM 5/9/08
So, just how many people take no for an answer these days?
Rauzaruke
Candlejack
Posted 11:17 AM 5/9/08
@JetPogi: Please, if there's one thing Squeenix needs less of, it's "emo". :/
Candlejack
JetPogi
Posted 11:16 AM 5/9/08
@Spartan1308™: square emo, squinimo, tecnix?
JetPogi
Nine_breaker
Posted 11:16 AM 5/9/08
i guess in the end nobody wanted to see realistic looking girls and just settled for the plastic mannequin ones...
JUST ANNOUNCED RYU DYNASTY HAYABUSA WARRIORS!!!
Nine_breaker
JetPogi
Posted 11:14 AM 5/9/08
Ninja Gaiden coulda had a story if taken over by SE but now who knows??
JetPogi
Spartan1308™
Posted 11:13 AM 5/9/08
Tecmokoei just works better as a name than Squareenixtecmo. I guess it could have been Tecmosqueenix.
Spartan1308™
Bernard McGraw
Posted 11:13 AM 5/9/08
Well that was a lot less dramatic that it could've been.
Bernard McGraw
Philondra
Posted 11:08 AM 5/9/08
Once again, Square Enix needs to start outsourcing their business letter translations -- or at the very least have them checked by a native speaker. This letter reads like English aimed at Japanese people.
Philondra
Revenge_of_Nekojin
Posted 11:07 AM 5/9/08
So much for Square making a Ninja Gaiden RPG. Then again, Square doesn't make hard games, so SOMEONE would be disappointed there.
Revenge_of_Nekojin
Tetelestia
Posted 11:07 AM 5/9/08
An answer is singular.
Tetelestia
Star A.D.
Posted 11:57 AM 5/9/08
Love the watermark.
Star A.D.
macr0planet
Posted 11:53 AM 5/9/08
Well for a bit I was excited, but now I just hope that someone will work on Dead or Alive 5. And all the other DoA titles that Team Ninja said they were bringing.
macr0planet
Mister_Jack
Posted 11:52 AM 5/9/08
So now we get Komo or Tecei. Hmmmm.
No sir. I don't like it.
Mister_Jack
aevanko
Posted 11:48 AM 5/9/08
"...requested TECMO for explanation of some issues to receive no response to it, even reasons of the rejection."
Is that proper English? >O<;
aevanko
Shin-san
Posted 11:45 AM 5/9/08
They already got Taito, so I'm not surprised
Shin-san
animexplorer
Posted 11:43 AM 5/9/08
"I will make them an offer they cannot refuse"
-Don Corleone.
animexplorer
Llost
Posted 11:43 AM 5/9/08
@excel_excel: Square's a cool company, they're not like EA at all so I don't believe they'd have damaged Tecmo's lineup of titles like people suggest. This has gone wrong as far as I'm concerned but atleast Tecmo is getting a merger and going to survive which is good news to me anyway.
Llost
GT-Sythis
Posted 11:43 AM 5/9/08
Square "undiscovered" it's talent.
GT-Sythis
excel_excel
Posted 11:40 AM 5/9/08
I applaud there effort! They know how to take a hint! Now EA on the other hand....
excel_excel
m0re
Posted 11:40 AM 5/9/08
Dear Tecmo,
We have withdrawn our proposal for friendly takeover.
We will begin the UNfriendly takeover very soon.
Thanks,
Square Enix
m0re
Llost
Posted 11:38 AM 5/9/08
awwww, c'mon square your a higher level than Koei. Kick them out of the picture and raid Tecmo for their IP. I'm only really interested in NG and DOA from them and I know there not gonna scrap those titles.
Llost
m0re
Posted 12:07 PM 5/9/08
@aevanko: maybe if written this way : "...requested TECMO for explanation of some issues only to receive no response to it, even reasons of the rejection."
m0re
DukeOfPwn
Posted 12:07 PM 5/9/08
@yanipheonu: Think you've got that reversed, buddy.
DukeOfPwn
yanipheonu
Posted 12:04 PM 5/9/08
Tecmo: "Can wez take you over please?"
Square-Enix: "What did the five fingers say to face? SLAP!!"
*slaps Temco in the face*
yanipheonu
AndroidKing
Posted 11:59 AM 5/9/08
Itagakis on the market, they could just hire him to spite tecmo.
AndroidKing
bialia
Posted 12:32 PM 5/9/08
@wahlumsurfer: yes.
;)
bialia
Mister_Jack
Posted 12:45 PM 5/9/08
There there, Square-Enix. You're too good for that jerk Tecmo anyway. Someday you're gonna find a nice company that knows how special you are. Actually, you guys used to be Squaresoft and Enix, didn't you? You want to get some threesome action now? Damn, that's kinky.
Mister_Jack
Kuririn
Posted 1:14 PM 5/9/08
tommorows article will read: Mysterious long silvery haired man attacks Koei/Tecmo HQ, Ryu Hayabusa, Liu Bu and Hattori Hanzo found with excrement in pants. Tecmo merges with Square Enix forming "tecmenix squared"
in other news:
Nintendo begins fortifying mushroom kingdom, hero of time is called, starfleet of renowned pilot Fox Mcloud and Bounty Hunter Samus Aran rally
then...the new ultimate showdown begins...
Who will live? who will perish? find out next post i put in a related article!!!!!
Kuririn
thekirby45
Posted 1:41 PM 5/9/08
EA: SquareEnix YOUR DOING IT WRONG
thekirby45
Suntsu
Posted 2:17 PM 5/9/08
grin
tommorows article will read: Mysterious long silvery haired man attacks Koei/Tecmo HQ, Ryu Hayabusa, Liu Bu and Hattori Hanzo found with excrement in pants. Tecmo merges with Square Enix forming "tecmenix squared"
in other news:
Nintendo begins fortifying mushroom kingdom, hero of time is called, starfleet of renowned pilot Fox Mcloud and Bounty Hunter Samus Aran rally
then...the new ultimate showdown begins...
Who will live? who will perish? find out next post i put in a related article!!!!!
Suntsu
Popcornicus
Posted 2:41 PM 5/9/08
Why does Square-Enix need to blab about every step of the process? Is this the idiosyncratic nature of Japanese corporate politics at work, or is SE that arrogant?
Sifting through the translationese I get this "Hurr hurr how dare they refuse our offer of assimilation?" vibe. I'm sure some gamers agree that Tecmo should allow itself to be eaten, but this feels unprofessional, maybe downright villainous--sort of like Big Bad Empire behavior in every FF game.
Popcornicus
banana-3
Posted 2:36 PM 5/9/08
@Suntsu: A silvery haired man(woman, sephiroth) could never stand up to Ryu.
banana-3
sayoko
Posted 3:14 PM 5/9/08
Tecmo and Koei seems like a better combination, considering the kind of games they both have. And besides, it's only fair that companies only get to merge once (Namco Bandai, Square Enix, now Tecmo Koei).
sayoko
prozac00
Posted 3:27 PM 5/9/08
THis is what more and more game companies in Korea and Japan do..they see companies in trouble with lets say incompetnent management or a string of underperforming yet still vital portfolio...and they acquire.
Its happenning alot lately. Webzen and NHN, T2 and Hanbit, possibilities between Grasshopper and Q Ent....etc..
prozac00
Clockw0rk
Posted 4:29 PM 5/9/08
This makes me sad.
Tecmo could've made Tifa's chest even bigger.
Clockw0rk
Ultrasinc
Posted 8:44 PM 5/9/08
It's more the Ninja pride move. You don't want to seem "owned".
OR Tecmo make it a big one by accepting proposal AFTER merge, lol
Ultrasinc
Ultrasinc
Posted 8:40 PM 5/9/08
Tecmo would've been cool, but all Square really need is to hire Itagaki and that action part of there port-folio they say they're missing would've been solved.
Ultrasinc
Popcornicus
Posted 8:56 PM 5/9/08
@Ultrasinc: I wonder if a major corporation could perform an act analogous to seppuku.
Popcornicus
SavidDaunders
Posted 11:11 PM 5/9/08
It should be known that aggressive takeovers are very rare in Japan (tho STARTING to start becoming more common). They are seen as... well... not very friendly.
SavidDaunders
reynoldswrap
Posted 3:55 PM 5/9/08
Namco Bandai and KOEI are already partners. (Dynasty Warriors: Gundam. God awful name, decent game.)
I'm sorry, but Final Fantasy, as a series, is much more repetitive and boring to me than Dynasty Warriors (which has disappointed me on occasion). And Dynasty Warriors has the same basic story every game and still manages to stay more interesting than the convoluted wankfests that are most Final Fantasy storylines.
reynoldswrap
LaylaMisun
Posted 1:25 PM 5/9/08
I think: "...requested TECMO for explanation of some issues to receive no response to it, even reasons of the rejection."
Is just missing a comma.
"...requested TECMO for explanation of some issues, to receive no response to it, even reasons of the rejection."
LaylaMisun
LaylaMisun
Posted 1:23 PM 5/9/08
@Philondra That's just a sad commentary on US education if that what you think about that "translation" it reads as plain as day to me. Maybe you should bump up your reading level to college.
LaylaMisun
Impurethinker
Posted 3:19 AM 6/9/08
@LaylaMisun:
Sorry no, what you did there is an improper comma splice. Furthermore the grammar of that sentence is wrong. This whole sentence:
"Followed by the notice, the Company immediately requested TECMO for explanation of some issues to receive no respose to it, even reason of the rejection."
Need to be rewritten from the ground up. The first clause should be a participle clause with a progressive aspect, explanation is a noun and as such would need 'an', and everything after that need rewording.
"Following this notice, the Company immediately requested an explanation from TECMO about any possible issues or reasons for the rejection; unfortunately, the Company has not received any response."
Would be one possible fix. I even threw in a semicolon /conjunctive adverb bit in there to spice it up.
Still I'm only pretending to be an English teacher at my day-job so someone with actual English credentials could come in and adjust what I've done slightly and I wouldn't mind a bit. But yeah that original was just wrong there.
[and yes you can start a sentence with a conjunction just fine, depending on what style of writing you are trying to pander to, as long as you don't over do it]
Impurethinker
race
Posted 5:22 PM 6/9/08
@Kuririn: You remind me of the song "THIS IS THE ULTIMATE SHOW DOWN of ULTIMATE DESTINY!".
race