Rovio to review offer for Israeli Studio

The board decided to enter into preliminary non-binding discussions with certain parties, including Playtika Holdings, a game studio in Israel, as part of the review. The offer represented a roughly 60 per cent premium on the share value at the time of issue. In November 2022, the Israeli company had made an unidentified offer of 8.50 euros per share for the studio.

The press release put out on Monday by Rovio states that there is no assurance that the strategic review and the preliminary non-binding discussions will result in any cash or other tender offer or any other transaction. Rovio will release more information at an appropriate time. Shares in Rovio increased by 14.5 per cent after the announcement.