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Square Enix Buys Eidos for $120 Million

Eidos shareholders have approved a takeover by Japanese publisher Square Enix. On February 12, 2009, the Boards of Eidos and Square Enix announced that they had reached an agreement on the terms of a recommended acquisition. The UK-based Eidos had previously been purchased by Sci in May 2005, with the parent company (Sci) being renamed Eidos.

Today’s vote paves the way for an April 22, 2009 takeover of operations by Square Enix where Eidos will become a wholly owned subsidiary. The number of shareholders voting in favor of the takeover was 85.03 percent representing 99.92 percent of shares. Voting against were 14.97 percent of shareholders. The stock value of $.46 per share is triple the value of where the stock was performing before Square Enix announced its intention to buy Eidos.

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