Square acquisition of Eidos approved by court
Shares dealing suspended tonight, takeover official as of April 22
A court has approved the acqusition of UK games publisher Eidos by Japanese company Square Enix.
According to information received by GamesIndustry.biz, the details of the acquisition have been approved at a court hearing today, and Square Enix will officially take over tomorrow, April 22.
Dealings in Eidos shares on the London Stock Exchange have been suspended as of 5pm BST. As of 6pm, Eidos shareholders received 32 pence cash per share, with any unpaid dues to be dispatched no later than May 6. Eidos will no longer be listed by the UK Listing Authority, and will be cancelled on April 23 at 8am.
In February, the Eidos board of directors officially recommended Square Enix's GBP 84.3 million bid to shareholders. The bid was approved in late March by over 85 per cent of Eidos shareholders. Today's court approval and delisting were the final steps in the acquisition, the history of which we detailed in this February news article.