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

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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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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