Unknown US-listed buyer raises non-binding DoubleDown bid to $17 a share

DoubleDown Interactive’s takeover disclosures show an unidentified US-listed company made a non-binding bid in June, later raising it from $15 to $17 a share. The buyer estimated it would need about $600m in debt financing, including refinancing and new loans, while majority shareholder DoubleU Games, which held 67%, did not want to sell. Separately, DoubleDown agreed this week to a $184m all-cash offer from DoubleU Games for the remaining equity.