 flottenheimer | Skrevet 02/05-03 14:58, rettet 02/05-03 14:58 | Sammy unhappy with Sega/Namco talks
Although Sega has not yet announced its decision on which potential merger it will continue with, Sammy's president, Hajime Satomi, has publicly expressed his feelings about the possibility of the Sega/Sammy merger not happening.
In an interview with the Japanese newspaper, the Asahi Shimbun, Satomi expressed that he was upset by Sega's actions since his company has been going forth with the plans in good faith.
"[Sega] has betrayed and embarrassed us," an un-named senior executive at Sammy told reporters. "We don't really care [if the deal goes through or not] anymore."
Satomi was a close friend of the late Isao Okawa, former Sega chairman and president, and founder of CSK Corporation, which holds 22% of Sega's stock. He often remarked that Sega and Sammy were virtually family because of this friendship. It seems Satomi held a belief that his long friendship with Okawa would help in the merger.
Although the contracts to merge Sammy and Sega have not been signed, Sammy officials state there was a verbal agreement and a handshake on the deal in February of this year.
Sega and CSK executives have stated they have not made any final plans, and will merge with whichever company can ensure Sega's maximization of business and profits.
Namco executives still insist that merging with them is the better choice for Sega. Both are video game companies, and both have franchises known the world over. By merging with Namco, they say, both companies can only benefit. A Namco official is reported as saying "Namco is Sega's best partner because we are in the same industry."
Namco also seems to imply that Sega's financial troubles may be more damaging than they appear. "We have to do something, or Sega will go under," a Namco official said.
Sega and Namco had been in negotiation last year, but Sega ended those negotiations in February right before the Sega/Sammy merger plans were announced. The stock market, however, didn't agree with Sega's plans to merge with Sammy, and shares of both companies fell after the announcement.
"At that time, we didn't know what was going on. But Sega has apparently come back to the negotiation table after seeing its stocks fall," a senior Namco executive said. Namco even hints it would be willing to allow Sega to buy them outright. "We are serious about this and we wouldn't even mind Sega acquiring us."
Source: GameFront; Asahi.com | · ··~''' Insert coin to continue '''~·· ·
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