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Square takeover of Eidos given green light

Fri 27 Mar 2009 12:16pm GMT / 8:16am EDT / 5:16am PDT
BusinessPublishing

Shareholders overwhelmingly vote to accept bid for the UK publisher

One of the last UK publishing houses will come under foreign ownership next month as shareholders in Eidos voted with an overwhelming majority to accept the bid by Square Enix.

The Final Fantasy publisher, which offered 32 pence per share in February under the SQEX holding company, will gain control of Eidos and its constituent parts after the publisher's shares are delisted, which is estimated to happen in late April.

At a court meeting over 85 per cent of the shares held in the company were represented in votes cast to accept the bid, and at the subsequent EGM the motion required to implement the acquisition was also approved.

Among the properties that Square Enix will take control of are the Tomb Raider, Hitman and Championship Manager franchises, although there's no word as yet on what changes the new owners will make to the company's structure.

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