Home > Strategy > M&A > Sega Sammy opens tender talks with Angry Birds creator
Sage Sammy Holdings, the Japan-based gaming heavyweight formed by the merger of Sega and Sammy Corporation, has entered into discussions over a potential tender offer for Rovio Entertainment.
Angry Birds creator Rovio confirmed the Sega Sammy tender talks in a statement but said there is no certainty as to when the possible tender offer would take place or whether it would take place at all.
Rovio also said it would not discuss the terms of such potential tender offer, nor valuation estimates reported in the media, with both businesses to release more information at an “appropriate time”.
The latest talks come after Rovio in February launched a strategic review of its business and announced that it would holds preliminary non-binding discussions with certain parties in relation to a potential tender offer for its shares.
Sega Sammy tender
This followed Playtika putting forward an all-cash acquisition offer of €8.50 (£7.52/$9.34) in November last year, while the social gaming developer returned with an improved offer of €9.05 per share in January.
While talks took place with Rovio, and Playtika chief executive Robert Anokol said the deal would be valuable for Rovio’s shareholders, Playtika pulled out of discussions last month.
Neither Playtika nor Rovio went into detail about the termination of talks, though Rovio at the time said discussions were ongoing with other parties.
Rovio’s Angry Birds franchise launched in 2009 and has spawned a host of spin-off games, books, comics, films and animated series, as well as a number of theme park rides.
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