Sega Sammy Holdings Inc (6460.T) of Japan has agreed to launch an offer for Finland’s Rovio Entertainment (ROVIO.HE), the maker of the Angry Birds mobile game, for 706 million euros ($775.8 million), according to a joint statement released on Monday.
Sega, based in Tokyo, will pay 9.25 euros per share for Rovio, representing a 19% premium over Friday’s closing price of 7.775 euros.
Rovio, which has been conducting a strategic review, announced on Saturday that it was in discussions with Sega about a possible tender offer. On Friday, the Wall Street Journal reported that a deal between the two companies was imminent.
Israeli rival Playtika (8II.F) made a preliminary bid for Rovio in January for 683 million euros, but the Angry Birds creator confirmed last month that talks had ended.
