Unity Turns Down AppLovin's Takeover Offer

Unity rejected AppLovin's offer to buy the company in an all-stock deal valued at $20 billion and instead will move forward with a plan to buy ad tech and monetization software company ironSource, the company said Monday. From a report: AppLovin offered to buy Unity last week under the condition that Unity give up its $4.4 billion deal with ironSource. The merger with AppLovin would have given Unity 55% of the company's shares but only 49% of the voting rights, and CEO John Riccitiello would have kept the same role. But Unity said AppLovin's offer wasn't good enough to edge out a deal with ironSource. The company said the deal would not be in the interest of shareholders and "would not reasonably be expected to result in a 'Superior Proposal' as defined in Unity's merger agreement with ironSource."

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