In a quiet start to the year for company news, Aristocrat Leisure provided shareholders with an update on its recommended 2.1-billion-pound deal to buy London-listed gambling software maker Playtech.
On 18 October 2021, the boards of Playtech pls and Aristocrat announced the terms of a recommended cash acquisition of Playtech for 680 pence for each Playtech share.
On Wednesday, Aristocrat noted an announcement by Playtech that it will further delay its shareholder meetings in relation to the acquisition from 12 January 2022 to 2 February 2022.
As a result, the UK Takeover Panel has confirmed that the latest date by which time potential rival bidder, JKO Play Limited, must clarify its position by 26 January 2022. By this time, JKO must either announce a firm intention to make an offer for Playtech or announce that it does not intend to make an offer.
Aristocrat’s recommended acquisition remains the only firm offer that has been made for Playtech and the company is confident it provides attractive value in cash and enhanced regulatory and financial certainty for Playtech shareholders.
In its announcement, Aristocrat reiterated recent recommendations to Playtech shareholders from proxy advisers to vote in favour of all the resolutions to implement the acquisition and further confirmed that the regulatory approvals process remains well on track, to ensure completion of the acquisition as quickly as possible.