On Saturday, Angry Birds developer Rovio Entertainment (ROVIO.HE) said it is negotiating with Sega Sammy Holdings Inc (6460.T) about a tender offer.
In February, Rovio began a strategic assessment and non-binding talks about a prospective tender offer for its shares.
“As part of its strategic review, Rovio Entertainment Corporation confirms that it is in discussions with Sega Sammy Holdings Inc,” it stated. “Rovio and Sega will release further information at an appropriate time.”
The Wall Street Journal claimed Friday that Sega is close to buying Rovio for $1 billion.
Rovio didn’t comment. Refinitiv Eikon data showed its market capitalization at 594.1 million euros ($653.5 million) on Friday.
The corporation stated there “is no certainty as to when the possible tender offer would take place, or whether it would take place at all.”
Sega did not respond to Reuters’ request for comment.
In January, Rovio got a 683 million euro purchase proposal from Israeli competitor Playtika Holding Corp (8II.F), but talks were called off last month.
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