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

Anusuya Lahiri
1 min read
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In this article:

  • Leading mobile gaming company Playtika Holding Corp (NASDAQ: PLTK) 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.

  • Also Read: Playtika Bows Down To Economic Headwinds, Tech Meltdown; Slashes Workforce And Gaming Titles

  • 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 1.90% at $9.31 in the premarket on the last check Friday.

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This article originally appeared on Benzinga.com

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