Playtika raises bid to buy Rovio Entertainment to EUR 9.05 per share

Playtika announced it submitted a revised proposal to the Board of Directors of Rovio Entertainment Corporation to acquire Rovio for EUR 9.05 per share in cash. "The non-binding proposal, which is not subject to any financing conditions, was submitted to the Rovio Board of Directors on January 19, 2023, and represents an improvement over an initial EUR 8.50 per share proposal submitted November 16, 2022. The proposal is subject to customary conditions, including without limitation satisfactory completion of due diligence and recommendation of the Rovio Board of Directors. At the present time, no agreement has been entered into between Playtika and Rovio and there is no assurance that any transaction will materialize or eventually be completed," the company stated. "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," added Playtika CEO Robert Antokol.