In a joint statement released on Monday, Sega Sammy Holdings Inc. of Japan said that it would make an offer to acquire Rovio Entertainment, the Finnish developer of the Angry Birds mobile game, for 706 million euros ($775.8 million).
Sega, based in Tokyo, is willing to pay a 19% premium to Friday’s closing price of 7.775 euros per share when acquiring Rovio.
Rovio announced it was in negotiations with Sega about a possible tender offer
On Saturday, Rovio announced it was in negotiations with Sega about a possible tender offer, part of a larger strategic assessment it has been conducting. On Friday, the Wall Street Journal claimed that the two corporations were close to finalizing a deal.
In January, Rovio’s Israeli competitor Playtika made an initial offer to acquire the company for 683 million euros, but as of last month, Rovio had acknowledged that talks had broken down.
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