For those of you who don't know (Heck, I only learned about this today), Sega and Bandai were supposed to merge in 1997. Here's a video with more information.
As well as some old articles about the failed merge.
www.wired.com
www.nytimes.com
What if the merger had happened? Would Sega have been able to stay in the console business?
As well as some old articles about the failed merge.
Bandai Calls Off Planned Merger with Sega
The move came after Bandai's board decided the two companies wouldn't be such a good fit after all.

Sega to Acquire Bandai, Creating Toy-Video Giant (Published 1997)
Sega Enterprises says it will buy Bandai Co Ltd in stock swap valued around $1 billion, creating world's biggest toy and video-game company; new company will be called Sega Bandai; it will have $6 billion in revenue, with operations ranging from Sega's video arcades, miniature theme parks and...
What if the merger had happened? Would Sega have been able to stay in the console business?