Playtech says TTB should make an acquisition bid by 17 June

Playtech revealed today that the investor represented by TTB Partners should confirm their intention in a possible offer for the acquisition of the gaming technology provider by 17 June, 5.00 pm.

TTB was restricted for the period of 6 months to make an offer under “Rule 2.8 of the Code”. The London-listed company noted that this period expired on 20 May.

Now TTB needs to decide if it wants to make an acquisition bid by the deadline given by Playtech under “Rule 2.6 of the Code.” This deadline can only be extended by the Panel on Takeovers and Mergers.

TTB Partners approached Playtech behalf of an investor group with a possible acquisition offer in February following Playtech shareholder vote rejecting the $3.7 billion all-cash deal offered by Aussie gambling equipment maker, Aristocrat Leisure.

Gopher opts out from the acquisition race for Playtech

Playtech stated:

Discussions between the Company and TTB are ongoing and progress continues to be made. There continues to be no certainty that an offer will be made, or the terms on which any offer may be made.

Playtech’s CEO, Mor Weizer, and former Director, Thomas Hall have expressed interest in participating in the TTB Investor Group which is planning to make an offer.

The gaming company had seen interest by consortium led by JKO. TTB’s Hong Kon subsidiary, Gopher, which also acquired Playtech’s financial arm Finalto, wanted to make a but withdrew from the race.

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