Tecmo turn down Square-Enix takeover, merge with Koei

Tecmo have declined Square-Enix’s friendly takeover offer, only to strike up talks with Koei about a merger. Tecmo believes this will help them grow by respecting both companies. They say that the merger has a higher possibility of improving corporate value. Tecmo would have been swallowed whole by the Square-Enix takeover, but financially would probably be a better idea. Given Tecmo’s current circumstances, it would have been wise to accept. The company’s stock prices were falling until news of Square’s takeover bid, so we’ll soon see where this is going. Source: GoNintendo