In early September, Tecmo rejected Square Enix's "friendly takeover" over. Tecmo is currently in the process of merging with Japanese game maker Koei. Kenji Matsubara, Koei president, described how the merger between his company and Tecmo was initiated:
I heard that Tecmo had declined an offer from Square Enix, and that was when I first thought about the possibility of Koei making an approach. I called a board meeting for the very next day [September 1]to discuss the viability of a merger with Tecmo; we then decided to contact Tecmo, which we did on the same day, and discussions between us ensued; three days later, we were able to make an announcement.
This didn't come out of nowhere as Koei's founders were long-time friends with Tecmo's. While the two companies are still ironing out the final details, Matsubara stated that the two companies' software engineers were excited about future collaborations. Dynasty Warriors Xtreme Beach Volleyball anyone?
Kenji Matsubara Interview [EDGE]