Unity Software stock slumps after Applovin's $20 billion buyout bid was rejected

Dow Jones2022-08-15

MW Unity Software stock slumps after Applovin's $20 billion buyout bid was rejected

Shares of Unity Software Inc. (U) slumped 4.3% in premarket trading Monday, after the video gaming software company said it rejected Applovin Corp.'s $(APP)$unsolicited buyout bid valued at $20 billion submitted last week. The company said after a "thorough" evaluation of Applovin's bid, the board of directors unanimously determined it is not in the best interest of its shareholders to accept the bid, and it doesn't represent a "superior proposal" as defined by the merger deal with ironSource Ltd. $(IS)$. Shares of ironSource, which had agreed in July to be acquired by Unity in a stock deal valued at $4.4 billion, ran up 10.7% premarket. Applovin shares eased 0.1%. "We remain committed to and enthusiastic about Unity's agreement with ironSource and the substantial benefits it will create for our shareholders and Unity creators," said Unity Chief Executive John Riccitiello. Unity's stock has tumbled 59.1% year to date through Friday, while the S&P 500 has lost 10.2%.

-Tomi Kilgore

$(END)$ Dow Jones Newswires

August 15, 2022 08:14 ET (12:14 GMT)

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DragonLee
2022-08-16
DragonLee
Ok
虎妞KK
2022-08-15
虎妞KK
Applovin哪是蘋果公司啊？瞎翻譯

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