Square Enix takeover denied, Tecmo goes with Koei
It looks like the proposed takeover by Square Enix didn't take, as Tecmo has revealed they'll be merging with Koei. It turns out that this choice provides Tecmo with "a greater chance of boosting corporate value," whch basically means that merging with Koei wouldn't have the company swallowed whole by the huge Square Enix. They can still maintain some identity this way.
Square Enix isn't willing to call it quits, however. Their original buyout offer was for $206 million and they're planning to further investigate the terms of the Koei and Tecmo merger. We guess we'll be hearing more about this in the future.
[Via Joystiq]
