Aristocrat Faces Threat to Playtech Acquisition

Sat, Jan 1, 2022

Aristocrat officials are asking the U.K.’s Takeover Panel to investigate whether Asian investors buying up Playtech stock are acting in concert to block Aristocrat’s acquisition of the company.

Aristocrat Faces Threat to Playtech Acquisition

Aristocrat Leisure Limited, which has faced two competitors in its bid to take over iGaming giant Playtech PLC, is asking the U.K.’s Takeover Panel to look into efforts by Asian investors to buy up Playtech stock for more than the Aristocrat bid offer.

According to a report by Sky News that cited unnamed sources, Aristocrat is asking the government panel to see whether the Asian investors are acting in concert. The report said the investors may have amassed more than 20 percent of the Playtech shares, which could be enough to block the Aristocrat deal, which requires support from at least 75 percent of shareholders.

Aristocrat offered AU$5 billion ($3.7 billion) for Playtech, 680 pence per share, in November. JKO Play, a potential rival bidder, has until January 5 under U.K. Stock Exchange rules to either make a bid or walk away.

**GGBNews.com is part of the Clarion Events Group of companies (Clarion). We take your privacy seriously. By registering for this newsletter we wish to use your information on the basis of our legitimate interests to keep in contact with you about other relevant events, products and services which may be of interest to you. We will only ever use the information we collect or receive about you in accordance with our Privacy Policy. You may manage your preferences or unsubscribe at any time using the link in our emails.