The Clap
Unity (NYSE: U) rejected AppLovin’s (NASDAQ: APP) acquisition offer, opting to try and acquire ironSource (NYSE: IS) instead.
Backstory
AppLovin submitted an offer to acquire Unity for $58.85 per share, for a 55% stake. If Unity accepted the offer, they would have to abandon their plans to acquire ironSource.
The Deets
Unity believes that the offer from AppLovin was not in the best interest of shareholders, and thinks they should acquire the mobile advertising company ironSource instead.
Why this Matters
Unity added that the AppLovin acquisition was not going to lead to a better proposal, whereas ironSource provides a chance to improve for the customers as well as shareholders.
No Deal! Unity rejects AppLovin’s acquisition offer ❌
