Another Eidos shareholder backs Square Enix bid

Square Enix’s bid for UK publisher Eidos took another step forward this morning with the news that it had secured the support of another major shareholder in the firm.

Today the Japanese firm – which last werk announced its intention to buy the ailing Britsoft firm for around 84m, confirming our earlier prediction from December – confirmed that Pioneer Investment Management had agreed to back its play for the company.

Pioneer owns over 10 per cent of Eidos stock. Coupled with Square Enix’s already-secured backing from 20 per cent shareholder Warner and the amount owned by the publisher’s management, the firm now has backing from shareholders representing over 45 per cent of Eidos stock.

All three will vote in favour of Eidos’ acquisition at a company board meeting at the end of March.