Angry Birds maker Rovio confirms talks with Sega over tender offer
15/04/2023 15:06
April 15 (Reuters) - Rovio Entertainment ROVIO.HE , the
company behind the mobile game Angry Birds, confirmed on
Saturday that it is in talks with Japan's Sega Sammy Holdings
Inc 6460.T over a possible tender offer.
Rovio announced the start of a strategic review and
preliminary non-binding discussions regarding a potential tender
offer for its shares in February, a statement from the group
said.
"As part of its strategic review, Rovio Entertainment
Corporation confirms that it is in discussions with Sega Sammy
Holdings Inc," it said. "Rovio and Sega will release further
information at an appropriate time."
The statement comes after the Wall Street Journal on Friday
reported that Sega is nearing a deal to acquire Rovio for about
$1 billion.
Rovio declined to comment on the valuation. As of Friday's
close its market capitalization stood at 594.1 million euros
($653.5 million), according to Refinitiv Eikon data.
The company added in the statement that there "is no
certainty as to when the possible tender offer would take place,
or whether it would take place at all".
Sega did not immediately respond to a Reuters request for
comment.
Rovio received a 683 million euro takeover bid in January
from Israeli peer Playtika Holding Corp 8II.F , but the talks
were called off last month.
($1 = 0.9091 euros)
(Reporting by Anirudh Saligrama in Bengaluru; Editing by Jan
Harvey)
((Anirudh.Saligrama@thomsonreuters.com; @journoanirudh on
Twitter;))