Last month, Australian slot machine manufacturer Aristocrat brokered an agreement to acquire Playtech in a deal worth approximately £2.70bn (€3.15bn/$3.64bn) on an enterprise value basis.
However, a report from Sky News over the weekend suggested that Gopher, a minority shareholder in Playtech, had also made a preliminary approach for a potential deal.
The report mentioned that Gopher’s offer could be valued at around £3.00bn.
Playtech confirmed that it was approached by Gopher on 21 October, shortly after agreeing to the deal with Aristocrat on 17 October.
Gopher sought access to due diligence information in order to explore the terms of a possible takeover offer for all of Playtech’s issued and to be issued share capital.
Discussions with Gopher are at an early stage, and there is no certainty that a firm offer will be made.
Playtech also noted its ongoing discussions with Aristocrat and stated that a further announcement on the timing of their offer would be made later.
The Aristocrat deal is contingent on various conditions, including shareholder approval for the sale of Playtech’s Finalto financial trading division.
Earlier, Playtech had agreed to sell Finalto to Gopher for $250.0m after its shareholders rejected a bid led by the Barinboim Group.
The majority of Playtech’s voting interest rejected the Barinboim offer, allowing the supplier to negotiate fully with Gopher and eventually reaching an agreement.
Aristocrat responded to Gopher’s approach, stating that its agreement with Playtech was the result of extensive engagement starting in April 2021 and represented a firm offer.
Aristocrat expressed confidence in completing the transaction as planned in the second quarter of calendar year 2022.
Shares in Playtech are trading up 2.29% at 724.22 pence per share in London this morning, while shares in Aristocrat were down 2.13% at $47.25 per share in Sydney.
