On August 28th, Kotaku first broke the news that Square Enix made an offer to Tecmo for a "friendly" takeover. Squar Enix's plan included offering to purchase a controlling interest in Tecmo by purchasing shares in that company at 30 percent premium. The Tecmo Board of Directors had until today, September 4, to approve or reject this offer. Square Enix stated it would withdraw it's offer if Tecmo rejected it.
Tecmo has just released a statement regarding this offering. That translated, after the jump.
http://kotaku.com/5045253/tecmo-rejects-square-enixs-takeover-offer
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