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 60 per cent premium on the share value at the time of issue. In November 2022, the Israeli company had made an unveiled offer of 8.50 euros per share for the studio.
There is no assurance that the strategic review and preliminary non-binding discussions will result in any cash or other tender offer or any other transaction, or the pricing of any such possible transaction, according to the press release released by Rovio on Monday. Rovio will release more information at an appropriate time. Shares in Rovio gained 14.5 per cent after the announcement.