Square + Enix Solving Problems
sifar    2003-01-14, 00:00 am.

Despite the recent rejection by Mr. Masashi Miyamoto (owner of 40% of Square's shares) of the offer by Enix to Square for a merger, Square is still pressing forward for a merger to happen. A Square representative stated that they were in talks with Enix again in order to make an agreement that would satisfy the needs of both sides. They wish to come to the agreement by February 12, 2003, on which the deal will hopefully be finalized.

Today, through the Japanese News TV Bloomberg, Enix revealed that they would offer Square 0.85 of their stock in exchange for 1 stock of Squaresofts'. The original deal had Square giving up 1 stock plus 30 yen/stock in exchange for 0.81 of Enix's stock.

Not much more information has been revealed as of yet, except the fact that Square and Enix will be holding a press conference within a day or two.

It is still not known though, if Mr. Masashi Miyamoto is happy with the offer or not. That will only be known after the press conference.




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