Tecmo has rejected Square-Enix’s buyout offer today and instead opted to pursue merger talks with Koei.
According to a Tecmo statement translated by Kotaku, both companies “have excellent financial positions, strengths and the ability to take advantage of each other in order to improve profitability and solidified the foundation of a worldwide leader,”
At the time of the friendly “buyout” offer, Square-Enix stated that it would not further pursue the Tecmo buyout if the offer was rejected.
Koei is best known for the Dynasty Warriors series while Tecmo has most recently been definied by the success of the Dead or Alive fighting series and the action oriented Ninja Gaiden, both of which were previously headed by Tomonobu Itagaki before he left the company and filed a lawsuit against the former employer for unpaid bonuses.
The Itagaki-less Team Ninja is still at work in Tecmo, with the development studio promising the reveal of three brand new titles at this year’s Tokyo Game Show.
