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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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Four-song EP by Late Singer Faithfull to Be Released in April

Faithfull performed at the Bataclan concert hall in Paris in 2016. FRANCOIS GUILLOT / AFP
Faithfull performed at the Bataclan concert hall in Paris in 2016. FRANCOIS GUILLOT / AFP
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Four-song EP by Late Singer Faithfull to Be Released in April

Faithfull performed at the Bataclan concert hall in Paris in 2016. FRANCOIS GUILLOT / AFP
Faithfull performed at the Bataclan concert hall in Paris in 2016. FRANCOIS GUILLOT / AFP

A new four-song EP by British singer and actor Marianne Faithfull, who died in January, is to be released in April, with the title track out on Friday, her family announced.
"As we grieve the loss of Marianne, we are pleased to announce the release of these songs which she worked on during the year before her death," said her son Nicholas Dunbar.
"Marianne lived to create and perform music –- it was her driving force and she never stopped. Right up until the end she was looking forward to this release which now completes and celebrates her remarkable artistic career."
Faithfull was an icon of Swinging Sixties culture and was known for her tempestuous relationship with Rolling Stones frontman Mick Jagger, said AFP.
The "Burning Moonlight" EP will be released as a limited-edition vinyl on April 12 and worldwide digitally on June 6.
The EP was originally due to be revealed in February but the announcement was put on hold following the singer's death on January 30.
"We decided to bring the music full circle. One side of the EP would be inspired by her debut pop LP 'Marianne Faithfull' while the flip would honor her folk roots on 'Come My Way'," said the EP's executive producer Andrew Batt.
The title song, available from Friday, is described as a "moving ballad of resilience and acceptance".
"It's a good time to look back," Faithfull said after completing the project, according to the press release.
"It helps me to remember all the things I've done. I can't say I'm a particularly nostalgic person, but I am enjoying this period of reflection."
The singer got her first break in 1964, after being discovered by Rolling Stones manager Andrew Loog Oldham.
Her first hit "As Tears Go By" written by Jagger and his fellow Rolling Stone Keith Richards, was followed with a string of successful singles, including "Come And Stay with Me", "This Little Bird" and "Summer Nights".
She also acted in films including "The Girl on a Motorcycle" and theatre productions.
She fell on hard times that included living in a squat and a heroin addiction following the end of her relationship with Jagger in 1970.
But she returned with the classic album "Broken English" in 1979 and later reinvented herself as a jazz and blues singer with 1987's critically acclaimed "Strange Weather".