TOKYO -- Square Enix has issued a "friendly" takeover bid for publisher Tecmo.
The plan would include the purchase of Tecmo shares at a 30 percent premium -- 960 yen ($8.80) per share, against a current market value of 706 yen ($6.50) -- for a controlling interest, according to Kotaku.
Tecmo must make a decision on the offer by Sept. 4. In the case of rejection, Square Enix will withdraw its offer.
This is just the latest in a string of recent setbacks for Tecmo, which has weathered the resignation of its president, Yoshimi Yasuda, and has had famed Ninja Gaiden creator Tomonobu Itagaki and other employees file suit against it.
Square Enix Plans to Take Over Tecmo [Kotaku]
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