Square Enix Wants Eidos, Lowers Expectations

With Valentine’s Day incoming, Square Enix has made a swoop for Eidos, making an offer to buy out the company for £84 million, which they say is about a 129% premium on Eidos’ current market value.

Eidos directors will recommend that shareholders approve the deal. Additionally, the company is saying that such an acquisition presents “a highly attractive opportunity for the Square Enix group to create further value” for its shareholders. Eidos has a stable of big-name franchises including Tomb Raider, Deus Ex and Hitman.

Despite all this, the Japanese publisher today updated its financial forecast for the fiscal year ending March 31, cutting profit expectations by 62.5%. The company now hopes to see a net profit of $49.6 million, instead of the previously anticipated $132.4 million.

Square Enix additionally confirmed that the Japanese debut of Dragon Quest IX has been delayed until July 11. The game was previously expected on March 28; the delay comes after the discovery of several major bugs.

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