PS2 News: Square and Enix merger faces trouble - PS2 News

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Square and Enix merger faces trouble

   It was announced today that the merger between Square and Enix is facing trouble, due mainly to the disagreements made from Masashiu Miyamoto, the primary shareholder of Square. Apparently, Miyamoto does not agree to the terms expressed in the agreement, as it calls for 1 share of Enix to be equal to 0.81 shares of Square stock. Since this is far better for those invested in Enix, Square representatives are expressing their frustrations.

   It appears that with the current statistics and agreement details, Miyamoto will cast a negative vote on the merger, which means 40 percent of Square's shares will be against what was first believed to be a very promising deal. PSX Extreme will continue to cover this story, so stay tuned for further information.

1/11/2003 Matt Stensrud

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