Namco Rescinds Sega Merger Offer

Namco, which publicly proposed to merge with Sega last month as the Sega-Sammy deal was moving forward, withdrew its offer. Namco said late Thursday that it decided to rescind the offer because Sega failed to provide a "clear response" to Namco's proposal. However, Namco said that if Sega offered a proposal to the company, it would consider it. Namco's shares jumped 5.6 percent to 1,846 yen. Sega fell 6.2 percent to 633 yen, extending Thursday's 4.7 percent decline.