The head of London-based online gaming giant Playtech may join the company’s second-largest shareholder in its bid to take over the company. According to a report in Reuters, Playtech Chief Executive Mor Weizer and Thomas Hall, a former company director, have approached TTB Partners with a proposal to join with their interest in the takeover bid.
TTB, which holds a 4.9 percent interest in Playtech, was released by Playtech to make a fresh bid under U.K. takeover rules. The equity firm’s affiliate Gopher Investments was one of the original bidders for the company, but initially failed to submit a rival bid to the $2.8 billion takeover offer from Australia’s Aristocrat Leisure Limited. That bid was rejected by shareholders on February 2, when the slot supplier failed to muster the required 75 percent shareholder approval for the deal to go through.
Playtech’s board of directors will form an independent panel of directors (excluding Weizer) to consider takeover offers from TTB or other parties, the company told Reuters.
TTB said in a separate statement last week it had agreed to explore Weizer and Hall’s proposal to join its investor group.
