Squenix merger hits a snag
Miyamoto (no, not him) is unhappy with terms
The fans favourite Square/Enix merger plans have been thrown into doubt this weekend by news that Square's chief shareholder, Masashi Miyamoto, does not agree with the terms of the merger. The news first appeared on the Japanese Nikkei Keizai Shimbun news wire.
Miyamoto-san (no relation as far as we know) is said to be apprehensive about the terms which call for each share of Enix stock to be the equivalent of 0.81 shares of Square stock. Obviously this is a substantial gain for Enix shareholders, and this is believed to be the basis for Miyamoto-san's consternation.
Unfortunately, reports indicate that if the current numbers remain, Miyamoto-san will cast a negative vote at the shareholders' meeting to finalise the merger. With 40 per cent of the Final Fantasy creator under his belt, such a vote could ruin our hopes for terrible PAL conversions of Star Ocean titles and linear, CG-packed renditions of Dragon Quest.