Nintendo to purchase 2.6% of Bandai

posted on by Jonathan Mays
1.28 million shares of Japan's largest toymaker will be acquired

Reuters is reporting that Nintendo is planning to buy over one million shares in Bandai, making the GameCube manufacturer one of Bandai's top ten shareholders. The transaction of 1.28 million shares comes after a Bandai shareholder approached Nintendo, asking if they would like to acquire the share of the company. As of last March, Nintendo did not own a single share of Bandai.

Both Bandai and Nintendo have announced that no buyout is in progress and that Nintendo's recent purchase will not affect the relationship between the two companies. Rumors in several Japanese tabloids, however, suggest a merger may be on the horizon.

In May of 1997, a pending merger between Sega Enterprises and Bandai was called off when Bandai's board of directors suddenly decided against the deal.

This article has a follow-up: More on Nintendo Purchase of Bandai Stock (2003-10-24 11:17)
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