Playtech acknowledges Gopher takeover interest following media speculation

Playtech has responded to media speculation linking the gaming and lottery tech firm with a takeover counter-bid from Gopher Investments.
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Playtech has responded to media speculation linking the gaming and lottery tech firm with a takeover counter-bid from Gopher Investments.

This follows last month’s news that the company was the subject of a bid of £2.7bn from the Australian gaming manufacturer Aristocrat.

The holder of multiple contracts with lotteries around Europe, Playtech appears likely to be sold, with the board of directors reportedly encouraging shareholders to vote in favour of the deal. 

However, in the latest developments, Playtech has responded by confirming reports that it has been approached by Gopher for a potential counter-deal. 

The firm added that this approach was to ‘access certain due diligence information, to explore terms on which a possible offer for all of the issued and to be issued share capital of Playtech might be made’.

Playtech has persisted with its investor recommendation to vote in favour of the Aristocrat takeover deal, valuing the company at 680p per share, yet added discussions with Gopher remain at ‘an early stage and ongoing’.

Updating stakeholders, Playtech stated: “On 17 October 2021, Playtech and Aristocrat (UK) Holdings Limited, a company formed on behalf of Aristocrat Leisure Limited (“Aristocrat”), announced under Rule 2.7 of the Code that an agreement had been reached on terms pursuant to which Aristocrat will acquire the entire issued and to be issued share capital of Playtech for 680p per share in cash, subject to the satisfaction of customary and other conditions, including shareholder approval of the sale of Finalto. 

“A further announcement will be made in due course to update on timing of the Aristocrat offer.”