Playtech Doesn't Expect GBP2.1 Billion Aristocrat Proposal to Succeed; Receives Other Offers
02 February 2022 - 7:13PM
Dow Jones News
By Kyle Morris
Playtech PLC said Wednesday that it doesn't expect the
recommended 2.1 billion pounds ($2.84 billion) offer from
Aristocrat (UK) Holdings Ltd. to achieve the minimum threshold
required for approval and that it is evaluating proposals from
third parties for the B2B and B2C businesses.
The gambling-technology company said the threshold of 75% of
shareholder votes needed to approve the deal isn't expected to be
achieved, based on proxy votes. If that is the case on the final
vote, the acquisition won't proceed. Results of the final vote will
be announced in due course after the shareholder meetings, it
said.
On Oct. 17, Playtech said it had agreed to the cash takeover
offer of 680 pence a share from Aristocrat.
Playtech also said Wednesday that it is considering proposals
from third parties for its B2B and B2C businesses. No definitive
agreements in regards to these have been reached and negotiations
continue. There can be no certainty that any definitive agreement
will be reached, it said.
Further, the company said it has continued to see a strong
trading performance across both its core B2B and B2C
businesses.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
February 02, 2022 02:58 ET (07:58 GMT)
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