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Square Enix Merger Gets Green Light from Miyamoto
As previously reported, Square founder and No. 1 shareholder Masashi Miyamoto objected to the proposed merger with Enix, criticizing the exchange ratio of one Square share for 0.81 Enix shares. Today the companies announced that the issue has been resolved, by altering the ratio to 1 to 0.85. This move should pave the way for the merger to go ahead as planned on April 1st. The final decision regarding the creation of Square Enix will be made at a shareholders' meeting on February 13th 2003.
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