Masashi Miyamoto, who holds just shy of 40 per cent of Square’s common stock (and is not related to Nintendo’s legendary designer Shigeru Miyamoto, as far as we can tell), disagrees with terms which would see each Enix issuing 48.76 million new shares of its stock and exchanging them for Square stocks at a 0.81:1 ratio. Miyamoto believes that this ratio undervalues holdings in Square.
Although his huge voting block in Square doesn’t represent a majority, it’s thought that without Miyamoto’s blessing, the deal will need to be renegotiated – or simply called off, although that seems unlikely at this late stage in proceedings. Given the rather bold statements made by both companies when the merger was first announced regarding its importance to their ability to survive in the modern games industry, there would undoubtedly be very red faces all around and some very tough questions asked if the deal were to be cancelled.
Source: Gamesindustry.biz
