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Sega Reportedly Ops For Sammy Merger

Posted On: 5/6/2003

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TOKYO -- (Posted May 6) Sega Corp. has decided to merge with cash-rich Sammy Corp. after all, Japan's Kyodo news service has reported. Recent speculation had become widespread that Sega would instead accept a merger bid from rival video game manufacturer Namco Ltd. News of the merger hit Japanese media late Friday and was picked up Saturday in the U.S. by Bloomberg News. The report has not been officially confirmed or denied by Sega, but well-placed sources have leaked word that Sega will complete its audit of Sammy's books this week and may announce the merger ahead of the planned May 9 board vote on the question. A merger with Sammy is seen as giving Sega and its largest shareholder, information technology conglomerate CSK Corp., the surest return to financial strength.