Last week it was discovered that Square Enix had recently closed in on the struggling UK publisher and launched a generous takeover offer at 32p/share. That acquisition now has the backing of Time Warner and its 20 percent slice of the company.
Square Enix announced this morning that had obtained an “irrevocable undertaking” from Time Warner to vote in favour of the takeover. Time Warner's support now adds to the volume of shareholders backing the deal, with over 35 percent of Eidos shares owned by parties favouring the buyout.
A final vote on the firm's acquisition will be made at an extraordinary general meeting in March. If the deal goes ahead it would need regulatory consent.