The turmoil continues for beleagured Tecmo, which has been rocked by lawsuits from Ninja Gaiden creator Tomonobu Itagaki and the resignation of its president. Now Square Enix is moving in to buy Tecmo in what they're calling a "friendly deal."
Kotaku and Reuters are reporting that SE aims to buy more than half of Tecmo's shares at 920 yen each, 30 percent more than the studio's previous closing price. SE called the it a "friendly deal," and said that they would not pursue the bid if Tecmo didn't respond by September 4 or rejected the proposal outright.
SE will be giving a briefing on the proposal at 1 PM Japan time, so check back for more details around midnight eastern time. Until then, feel free to take bets on a Cloud Strife cameo in the next Dead or Alive game.
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