Square Enix and Eidos Agree Scheme

Square Enix and Eidos have agreed a timetable for the outright purchase of the ailing Britsoft publisher by the Japanese giant.

The timetable details the sequence of events that will see Eidos's complete share capital bought by Square as of May.

Square confirmed its interest in Eidos in mid-February following Eidos confirming it was in buyout talks in January. At that point Square was already looking like a strong suitor.

Warner Brothers, which already owned nearly 20% of Eidos, said it wouldn't block Square's purchase of the British publisher.

You can see the planned timetable of events below.

6.00 p.m. on 25 March
Shareholder voting record time in respect of the Court Meeting and the EGM

10.00 a.m. on 27 March
Court Meeting

10.10 a.m. on 27 March
EGM

The following dates are subject to change.

21 April
Suspension of listing and dealings in, and last date for registration of transfers of, Eidos Shares

6.00 p.m. on 21 April
Scheme Record Time

21 April
Court hearing to sanction the Scheme and to confirm the Capital Reduction

22 April
Effective Date of the Scheme

8.00 a.m. on 22 April
Cancellation of listing of Eidos Shares

6 May
Latest date for despatch of cheques and settlement through CREST (if Scheme becomes effective on 22 April 2009)

All of these dates are, of course, indicative.