Aristocrat is the leading contender to acquire Playtech in a £2.7bn deal agreed upon in October 2021.
A shareholder meeting is scheduled for 12 January 2022 to vote on the acquisition.
Playtech’s board believes the deal will provide “certainty and liquidity” to its shareholders by securing a price of 680 pence per share, reflecting Playtech’s potential in new markets.
In the past month, JKO Play Limited, headed by Eddie Jordan and Keith O’Loughlin, threatened to disrupt the deal with its own proposition.
Aristocrat remains confident that its offer is the best option and will benefit Playtech shareholders as well as employees.
The UK’s takeover panel has set a deadline under the City Code on Mergers for a firm offer from JKO. JKO must announce its intent to acquire Playtech by 5pm on 5 January 2022, or declare that it has no intention to do so.
If JKO fails to meet the deadline or indicates no intent to purchase, Aristocrat’s offer is expected to be approved by shareholders.
The acquisition is likely to be finalized in the second quarter of 2022.
Last week, Playtech shareholders approved the sale of its financial trading division, Finalto, to Gopher Investments. This was a crucial step for Aristocrat’s deal to proceed.
Gopher Investments had previously shown interest in acquiring Playtech but later withdrew from the race.
