Square Enix Denies Considering, Receiving Offers to Sell Company

5 months ago 64

posted on 2021-04-20 08:02 EDT by Adriana Hazra

Stocks jump after reports from CTFN, Bloomberg


Square Enix released a statement on Friday denying rumors that it had received any offers to acquire the company. Bloomberg Japan had reported earlier in the day that the company had received M&A interest, according to CTFN.

Square Enix's full statement reads:

Bloomberg has reported today that there is interest from several buyers to acquire Square Enix. However, this report is not based on any announcement by SQUARE ENIX HOLDINGS CO., LTD. We do not consider selling off the company or any part of its businesses, nor have we received any offer from any third party to acquire the company or any part of its businesses.

According to Bloomberg, CTFN's report about Square Enix boosted the company's value in the stock market by 12%, giving the company a market value of 845 billion yen (US$7.8 billion). The report also boosted other gaming stocks in Tokyo including KOEI Tecmo Holdings Co., whose stocks rose 2.9%.

Square Enix was founded in September 1975 as Enix. Square was founded in 1983. A merger between Enix and Square was finalized in November 2002 after Sony acquired 18.6% of Square in 2001. Microsoft, which acquired Bethesda in 2020 in a US$7.5 billion acquisition, attempted to acquire Square in 1999 before its merger.

Source: Square Enix's website, Bloomberg (Aoyon Ashraf, Bailey Lipschultz), (link 2, Shoko Oda, Takashi Mochizuki), CTFN (Sarah Cohen)


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