Playtika Proposes New Takeover Offer For Rovio Entertainment At 55% Premium

Benzinga2023-01-20

Leading mobile gaming company Playtika Holding Corp submitted a revised takeover proposal to the board of Rovio Entertainment Corp for €9.05 per share in cash.

The takeover offer implied a premium of 55% over Rovio's closing share price on Jan. 18, 2023.

The new offer represented an improvement over an initial €8.50 per share proposal submitted on Nov. 16, 2022.

"We firmly believe the combination of Rovio's renowned IP and scale of its user base, together with our best-in-class monetization and game operations capabilities, will create tremendous value for our shareholders," Playtika CEO Robert Antokol said.

Playtika held $1.3 billion in cash and equivalents as of Sept. 30, 2022.

Price Action: PLTK shares traded lower by about 1% at $9.4 in the premarket on the last check Friday.

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2023-01-20
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