Tecmo and Koei Merge Rumor

The combination of Tecmo and Koei would create a company with more than 40 billion yen in annual sales
Reuters is reporting that Japanese video game developer Tecmo Ltd has rejected a takeover bid by Square Enix. The company said it would instead merge with rival Koei. Square Enix had offered to pay up to $206 million to acquire Tecmo. Thanks: Andreas.