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More investors back Square-Eidos bid

Square Enix can now count on the support of almost 47% of shareholders

Key Eidos shareholders are continuing to flock to the Square Enix bid for the company, with another major investor now confirmed as backing the deal.

Pioneer Investment Management Ltd has agreed to put its weight behind the acquisition, bringing a block of 27.2 million shares - just over 10 per cent of the issued share capital - to the table.

That means that the SQEX holding company now has the support of around 123 million shares, including those covered by a letter of intent, which equates to almost 47 per cent of the issued share capital.

Other major shareholders, including Warner Bros with its 20 per cent stake, have already agreed to the deal which offered GBP 84.3 million for the company in total, which is equal to 32 pence per share.

Phil Elliott avatar

Phil Elliott