Last week we heard news that RPG juggernaut Square Enix had planned a friendly takeover of Tecmo, but would withdraw the offer if they were turned down. Well, that is exactly what happened. After careful consideration, Tecmo rejected the offer.

However, Tecmo is now in talk with Koei over the possibility of a merger.

Tecmo's statement:

For Tecmo, this proposal was received in a short span of time, but within the company, we collected opinions from management and game creators as well as a wide range of employees.

In our companies source of revenue, as a result of a guarantee with our capable workers, a guarantee of steady game development and the preservation of our brand, there is a high possibility of improvement. However, we did not arrive to agree to this proposal, and thus, our Managing Board declines the offer.

Stockholders, clients and customers, please continue your favor towards our company.

Miss Razz via kotaku.com »