Rovio, the Finnish games studio behind “Angry Birds” said on Monday that it had accepted a takeover offer from Sega Sammy, part of the Japanese consoles and games giant Sega. The deal v…
Sammy, part of the Japanese consoles and games giant Sega. The deal values Rovio at EUR706 million .
“The board of directors of Rovio, represented by a quorum comprising all members of the board of directors, has unanimously agreed to recommend that the shareholders and the option holders of Rovio accept the offer,” Rovio said in a statement. “Among the rapidly growing global gaming market, the mobile gaming market has especially high potential, and it has been Sega’s long-term goal to accelerate its expansion in this field.
The offer says that Sega will pay EUR9.25 per Rovio share and EUR1.48 for outstanding Rovio share options. The companies explain that is a 63% premium to the EUR5.67 price at which share trading on the NASDAQ Helsinki stock market was suspended in January when talk of a bid from Israel’s Playtika emerged, and a 19% premium to the shares’ closing price on Friday.
That was rich enough see Rovio’s major institutional shareholders agree to the Sega offer. Documents show that investors holding 49.1% of the equity have signed irrevocable agreements to sell their holdings to Sega.
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