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Angry Birds Maker Rovio Confirms Talks with Sega over Tender Offer

Angry Birds game characters are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. REUTERS/Anne Kauranen
Angry Birds game characters are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. REUTERS/Anne Kauranen
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Angry Birds Maker Rovio Confirms Talks with Sega over Tender Offer

Angry Birds game characters are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. REUTERS/Anne Kauranen
Angry Birds game characters are seen at the Rovio headquarters in Espoo, Finland March 13, 2019. REUTERS/Anne Kauranen

Rovio Entertainment, the company behind the mobile game Angry Birds, confirmed on Saturday that it is in talks with Japan's Sega Sammy Holdings Inc over a possible tender offer.

Rovio announced the start of a strategic review and preliminary non-binding discussions regarding a potential tender offer for its shares in February, a statement from the group said.

"As part of its strategic review, Rovio Entertainment Corporation confirms that it is in discussions with Sega Sammy Holdings Inc," it said. "Rovio and Sega will release further information at an appropriate time."

The statement comes after the Wall Street Journal on Friday reported that Sega is nearing a deal to acquire Rovio for about $1 billion.

Rovio declined to comment on the valuation. As of Friday's close its market capitalization stood at 594.1 million euros ($653.5 million), according to Refinitiv Eikon data.

The company added in the statement that 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 immediately respond to a Reuters request for comment.

Rovio received a 683 million euro takeover bid in January from Israeli peer Playtika Holding Corp, but the talks were called off last month.

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Sunday's Golden Globes to Launch Hollywood's Awards Festivities

FILE - Event signage appears above the red carpet at the 77th annual Golden Globe Awards, Sunday, Jan. 5, 2020, in Beverly Hills, Calif. (Photo by Jordan Strauss/Invision/AP, File)
FILE - Event signage appears above the red carpet at the 77th annual Golden Globe Awards, Sunday, Jan. 5, 2020, in Beverly Hills, Calif. (Photo by Jordan Strauss/Invision/AP, File)
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Sunday's Golden Globes to Launch Hollywood's Awards Festivities

FILE - Event signage appears above the red carpet at the 77th annual Golden Globe Awards, Sunday, Jan. 5, 2020, in Beverly Hills, Calif. (Photo by Jordan Strauss/Invision/AP, File)
FILE - Event signage appears above the red carpet at the 77th annual Golden Globe Awards, Sunday, Jan. 5, 2020, in Beverly Hills, Calif. (Photo by Jordan Strauss/Invision/AP, File)

Hollywood will kick off its 2025 awards festivities on Sunday at the annual Golden Globes ceremony where films such as "Wicked,The Brutalist" and "Emilia Perez" compete for trophies and attention ahead of the Oscars.
Timothee Chalamet, Selena Gomez, Ariana Grande and Angelina Jolie are among the stars in the running for acting honors at the red-carpet ceremony that will be hosted for the first time by comedian Nikki Glaser. The show will be broadcast live on CBS and stream on Paramount+, Reuters reported.
Spanish-language musical "Emilia Perez" and post-World War Two epic "The Brutalist" lead the night's movie nominees.
"The Brutalist" stars Adrien Brody as a Holocaust survivor who flees to the United States to chase the American dream. The 3-1/2 hour tale is considered a frontrunner for the night's top prize, best film drama.
Competitors include "Conclave," about the selection of a pope, and two movies starring Chalamet - Bob Dylan biopic "A Complete Unknown" and sci-fi epic "Dune - Part II."
Unlike the Oscars, musical and comedy films compete in a separate category at the Globes. Nominees in that field include box office smash "Wicked" and dark romantic comedy "Anora."
Winning a Globe can help films in the run-up to the Academy Awards in March. If a movie or actor takes home a Globe, "it increases the likelihood a member of the film academy will check out that project," said Scott Feinberg, executive editor for awards at The Hollywood Reporter.
Feinberg predicted "The Brutalist" or "Conclave" would earn the drama prize at the Globes. The musical or comedy category is harder to gauge, he said, because the nominees are so different from one another.
"Emilia Perez," a musical thriller, tells the story of a Mexican drug lord who transitions from a man to a woman. "Wicked," a prequel to "The Wizard of Oz," was adapted from a popular Broadway stage show.
"Anora," about a sex worker who marries the son of a Russian oligarch, is more of a traditional comedy while "The Substance" starring Demi Moore as a fading celebrity seeking a fountain of youth, is essentially a horror movie, Feinberg said.
"That (category) is just all over the place," Feinberg said.
Winners of the Globes are chosen by 334 entertainment journalists from 85 countries, compared with roughly 9,000 voters who select the Academy Awards. The Globes voting body was expanded in recent years and organizers instituted reforms after being criticized for ethical lapses and a lack of diversity.
In TV categories, restaurant tale "The Bear" leads the Globes nominees, followed by mystery comedy "Only Murders in the Building" and historical epic "Shogun."