Playtech Shareholders Approve Gopher’s $250M Bid for Finalto
Playtech concluded its general meeting on Wednesday as shareholders of the London-listed company approved the acquisition of Finalto by Hong Kong-based Gopher Investments.
“Playtech is pleased to announce that the ordinary resolution set out in the Notice of General Meeting to approve the Disposal was duly passed today, on a poll vote, by Playtech’s shareholders,” Playtech stated in an official announcement.
Under the agreements between the two companies, Gopher will acquire Finalto, which is Playtech’s financial trading division, for $250 million in an all-cash deal. After the shareholders’ approval, the company is expecting to close all the processes of the acquisition by the second quarter of 2022.
Now Its Playtech’s Turn
Meanwhile, Playtech itself is also in the process of getting acquired by Australia’s Aristocrat Leisure for around $3.7 billion. The two have already signed a definitive agreement, and the Playtech shareholders will again vote to confirm the deal on January 12, 2022.
“The approval given by Playtech shareholders to dispose of Finalto meets a condition of Aristocrat’s recommended offer and is a further step forward in the completion process,” said Trevor Croker, Aristocrat’s CEO and Managing Director.
“Aristocrat’s offer for Playtech has been recommended by the Playtech Board, and is the only offer on the table for shareholders. We believe that Aristocrat’s offer provides an attractive value and enhanced regulatory and financial certainty for Playtech shareholders, while the combined group will also provide greater opportunities for Playtech employees in a leading global organization.”
Meanwhile, a consortium led by JKO, which is controlled by former Formula One team-owner Eddie Jordan and former executive at U.S. slot machine maker Scientific Games, Keith O’Loughlin, also showed interest in Playtech by making a preliminary inquiry.
Playtech also received a preliminary approach from Gopher for a takeover bid, but the Hong Kong fund withdrew its interest.
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