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Court Approves Eidos Takeover by Square Enix

Court Approves Eidos Takeover by Square Enix

April 21, 2009 | By Kris Graft

April 21, 2009 | By Kris Graft
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A court has approved Square Enix's takeover of U.K.-headquartered Tomb Raider house Eidos, according to an announcement today by Eidos' board of directors.

Square Enix hopes that the acquisition of a major Western game publisher will give the Tokyo, Japan-based firm a greater foothold in Europe and North America.

The takeover is on track to become effective on April 22, when Eidos franchises such as Tomb Raider and Deus Ex will come under the same roof as Square Enix's revered Final Fantasy series and other properties.

The court today also confirmed Eidos' capital reduction. Dealings in Eidos shares will suspend on the London Stock Exchange at 5 p.m. local time on April 21, when shares will be delisted.

At 6 p.m. that evening, Eidos shareholders are to receive 32 pence in cash for each Eidos share. Eidos shares will be canceled at 8 a.m. on April 22.

In late March, over 85 percent of shareholders, representing 99.92 percent of shares, voted in favor of Square Enixs $117 million takeover.

Square Enix made its bid official in February this year.


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