http://kotaku.com/5043385/square-enix-president-discusses-friendly-tecmo-takeover
Take over is supposedly friendly.
Earlier today, we first broke the news that Square Enix had plans to takeover beleaguered game company Tecmo. At the ensuing press conference, Square Enix president Yoichi Wada revealed that this friendly takeover offer wasn't as sudden as it appears.
According to Wada, there have been discussions since May with former Tecmo president Yoshimi Yasuda and Tecmo Chairman of the Board (and current president) Yasuharu Kakihara. Yasuda has recently resigned in wake of a slew of labor dispute legal trouble with Team Ninja and Dead or Alive member Tomonobu Itagaki. Wada admits that he was "concerned" what would happen regarding those discussions when Yasuda resigned.
This, said Wada, is the same as when Square and Enix merged, adding: "In entertainment, games are the equal of the film and television industry, and growth is strong. But, now the Japanese game industry isn't leading with the same vigor that it did previously... This is a worldwide battle."
As we broke earlier, the Tecmo Board of Directors has until September 4th to approve the offer. It includes offering to purchase a controlling interest in Tecmo by purchasing shares in that company at 30 percent premium (¥960 a share compared to yesterday's close price of ¥706 a share). But if Tecmo does accept the offer, what will happen to Tecmo? It will fall under a holding company umbrella, said the exec. But regarding the actual Tecmo brand, Wada stated, "To either be affiliated and losing the brand or possibly merging with Taito, that's the big difference." Square Enix acquired Taito in 2005.
Wada was keen to point out how important (and attractive) Tecmo's IPs were. Not only that, he praised the company's ability to produce top quality titles — most notably Tecmo's fighting and action games. Wada also lauded the company's success abroad. The Square Enix exec pointed out that talented teams are needed to make games. "While it looks like the games are made by a single, talented genius, games are made by teams," said Wada. When asked about the Itagaki labor dispute, Wada replied: "I don't know anything of the concrete details of this particular case."
"I can only believe that our proposal will be accepted," stated Wada. "I hope."
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
