Sega Sammy extends acceptance period for Rovio bid
30/06/2023 17:06
STOCKHOLM, June 30 (Reuters) - Japan's Sega Sammy
Holdings 6460.T has extended the acceptance period for its
offer to buy Finland's Rovio Entertainment ROVIO.HE pending
competition agency approvals, the companies said on Friday.
Sega Sammy in April made a 706 million euro ($770
million)bid for its Nordic peer to bolster its mobile gaming
business.
"Certain competition authority approval processes are still
pending and will not be completed within the initial offer
period," the two companies said in a joint statement.
"Pending the approvals, the Offeror has decided to extend
the offer period for the Offer to expire on Aug. 7," they said.
The initial expiry date was July 3.
The companies said they still expected to complete the deal
in the third quarter.
($1 = 0.9166 euros)
(Reporting by Anna Ringstrom,Editing by Louise Heavens)
((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74))