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Tecmo Answers Spurned Square's Takeover Rejection Questions

50°
306w ago - Back before Square Enix rescinded its friendly Tecmo takeover bid, we first broke the news that RPG maker was baffled. Tecmo rejected its offer in favor of merging with Dynasty Warriors company Koei. Most curious. Square Enix had three questions for Tecmo:

1. Please confirm that the decision on the start of discussions with KOEI toward integration of management is the reason for rejection of the Proposal.

2. If that is the case, please clarify concretely that major terms of integration of management with KOEI (form of the integration, stock prices assumption, integration ratio and so forth) are favorable for TECMO's shareholders than the Proposal.

3. If not, please clarify that TECMO has an alternative plan, which is favorable for TECMO's shareholders than the Proposal.

Tecmo didn't answer these questions until today. We've translated that, after the jump.

1. "The reason why the Tecmo board members did not accept this offer is because of the decision to begin merger talks with Koei."

2. "Supposing this is the case, then the plan to merge with Koei (form of the integration, stock prices assumption, integration ratio and so forth) is concretely beneficial to Tecmo shareholders."

3. "Supposing this isn't...
 

Disgruntled Ex-GameStop Employee Takes it to YouTube

300°
306w ago - Below is a video of YouTube rants from a former GameStop employee known only as 'WhistleBlowerZero', who has made a 9 part (!) series in the style of Zero Punctuation to explain exactly how bad GameStop is to employees and customers alike.

Many of the tidbits within will hardly be a surprise to anyone who's ever set foot in one of their stores and/or had the misfortune of working retail, but the series seems to be targeted more at the casual consumer and perhaps people who think working at GameStop sounds like a great job.

Viva la revoluciĆ³n?




 

Console Takeover: Is PC Gaming Dead?

400°
307w ago - Facing tough competition from a red-hot console market, developers are looking online in a bid to keep computer-based gaming alive.

There was a time when personal computers were the tools of choice for hard-core gamers. But four years ago, on the brink of the release of the PlayStation 3, Wii and Xbox 360, analysts were proclaiming the death of PC gaming.

These new consoles - well, Sony's PS3 and Microsoft's Xbox - were more powerful than the computers at the time, and were integrating with home entertainment systems to provide high definition experiences beyond just gaming. Nintendo, meanwhile, offered a completely new approach to gaming with its Wiimote controllers.

And this year, Electronic Arts decided to kill the PC versions of many of its popular sports titles, including Madden NFL 09, Tiger Woods PGA Tour and NBA Live. LucasArts is releasing The Force Unleashed, its new Star Wars title, on every platform except PC.

Even developers who built their companies by producing games for computers are now turning to console development.

Crytek's Stan Huebler has indicated that his company, which stunned the industry with its PC-processing intensive Crysis, won't be making any more PC exclusive titles, and id Software's John Carmack told Tom's Hardware Guide that...
 

Take-Two Considering Grand Theft Auto on Wii?

50°
307w ago - Take-Two may be thinking about bringing Grand Theft Auto to the Nintendo Wii, reports MCV. At an earnings call, Take-Two CEO Ben Feder commented on the close relationship the company has garnered with Nintendo in the development of Grand Theft Auto: Chinatown Wars.

"I will tell you that we've spent an enormous amount of time and effort working with Nintendo and developing that partnership," he said.

He goes on to comment that the company will "continue to build that relationship," and calls Chinatown Wars an "important step." When asked directly about a Grand Theft Auto game on the Nintendo Wii, Feder turned suspiciously evasive. "So without commenting on whether GTA specifically...is coming to the Wii or not, I will say that Nintendo and Take-Two work very well together," he said.

"We intend to continue to grow that relationship." This isn't by any means a confirmation, but refusing to give a straight no means it could be in the cards.

Note, of course, that he says GTA, not mentioning Grand Theft Auto IV by name, a game which could be difficult to port to the less powerful Wii hardware. If a title in the series is on its way to Wii -- and that's already a big "if" -- it's more likely to be a new...
 

It's D-Day for Take-Two Interactive

50°
307w ago - Yesterday's session featured some strange exchanging of Take-Two Interactive Software Inc. (TTWO) shares, just one day before the company is set to release earnings.

There was no news released, though Barron's later said that the price decline was due to rumors about Electronic Arts Inc. (ERTS) walking away from merger talks. ERTS had an executive speak at a conference right around noon.

Below is a graph of TTWO's trades between about 11:15 and 12:05, when shares declined sharply, rebounded sharply, and then settled roughly 5% lower than where they opened.

As the stock crossed $24 about eight minutes into the graph, the first pickup in volume can be seen, possibly by stop-limit orders being triggered. The price continued to slide on light volume until shares broke through $23, when volume accelerated to over 50,000 shares per minute.

As the shares dropped below $22, volume topped 150,000 shares per minute, which is impressive, considering only 500,000 shares traded during all of Friday and only 1.3 million exchanged hands yesterday.

Frantic selling and buying took place over the following ten minutes, as about 1.3 million shares were traded. It seems as though stop-limit orders first were triggered, panic selling ensued, and finally, as the stock sat at $22, buyers...
 
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