Angry Birds maker Rovio Entertainment rejected a takeover approach from peer Playtika following a strategic review, but kept the door open for other potential buyers.

Rovio explained in a stock exchange release it would continue its review for the business, while adding preliminary non-binding discussions with Playtika had ended.

It also confirmed it is still engaging with other interested parties about an acquisition, without naming any potential suitors.

Playtika refreshed an earlier proposal for a buyout earlier this year, increasing it’s offer from €8.50 per share to €9.05, valuing the transaction at €751 million.

Rovio stated there is no guarantee the ongoing exploration of the possible sale “will result in any cash or other tender offer or any other transaction, or the pricing of any such possible transaction”.

Playtika also confirmed the termination of the talks in a separate, related statement. The company is known for mobile and PC gaming services, including a line-up of solitaire and casino-themed titles.

At end of 2022, Playtika laid off around 600 employees in what various outlets reported was part of a company-wide restructuring and an effort to refocus on core products.