Playtika is offering €9.05 (£7.90/$9.77) per Rovio share, a slightly raised amount an the initial bid of €8.50. The bid was submitted on 19 January 2023, while the initial offer was made on 16 November 2022.
Rovio’s board of directors have not yet agreed to or dismissed the offer. It is subject to customary conditions.
Robert Anokol, chief executive officer of Playtika, said that the deal would be valuable for Rovio’s shareholders.
“We firmly believe the combination of Rovio’s renowned IP and scale of its user base, together with our best-in-class monetisation and game operations capabilities, will create tremendous value for our shareholders,” said Anokol.
The announcement comes just a month after Playtika revealed it will lay off around 600 employees, representing 15% of its headcount, as it winds down its “non-core products”.