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.