A long time ago in a land far far away, there were two companies. One day, the first company, Sammy, decided it wanted to merge with the second company, Sega. Everyone seemed happy, but then Sammy called it off. A little bit later, they bought 22.4% of Sega's stock. In the next set of financial statements, Sega and Sammy announced that they would be merging again; for real this time.
Those financial statements were issued today. Sega and Sammy will form a new firm entitled Sega Sammy Holdings Inc, which will combine both companies into a single entity. Those holding Sammy stock will receive one share of Sega Sammy stock per share, while one Sega stock will net 0.28 of a Sega Sammy share; a 21% premium over the current market value. This will all occur on October 1st, assuming there are no complications, such as the last time a merger was attempted.
Sammy's Chief Executive Hajime Satomi will lead the new entity, while Sega's Hisao Oguchi will be the new vice-chairman.
It's interesting to note that the merger will oust Konami the new company as Japan's number one third party game publisher.
We'll have more on the merger, including it's effect on gaming, when that information revealed. For now, sit back and relax - Sega's not going anywhere.