Following JKO Play’s bid retraction, Aristocrat Leisure has reignited its quest to acquire Playtech.
In the wake of Eddie Jordan’s group’s exit, Aristocrat capitalized on the chance to reaffirm its purchase proposition. The gaming entity released a declaration in response to JKO Play’s withdrawal, restating its proposed cash bid.
Aristocrat reminded Playtech stakeholders that, with JKO no longer in contention, it stands as the exclusive bidder. The corporation stressed that its proposal delivers “complete and equitable value” with the “appeal of guaranteed cash.”
“Although the offer has been accessible for a prolonged duration, permitting the submission of alternative proposals, the Acquisition persists as the solitary concrete offer available to Playtech investors,” the company declared.
“Aristocrat further affirms that the regulatory endorsement procedure remains on course, and it is dedicated to finalizing the acquisition at the earliest feasible time.”
“Aristocrat reiterates that the terms of the Recommended Acquisition furnish Playtech shareholders with complete and equitable value, alongside the benefits of assured cash.”
As a reminder, the boards of both entities proclaimed the endorsed cash acquisition of Playtech on October 17, 2021, for 6.80 pounds (US$9.22) per share. Nevertheless, JKO Play indicated its acquisition interest in November, suggesting a possible bidding contest.
Amid speculation of Michael Jordan supporting a competing proposal from Anglo-Indian entrepreneur Vikrant Bhargava, this clearly didn’t transpire as JKO withdrew their offer. Such a scenario is improbable now.
Aristocrat exudes confidence, highlighting that key Playtech stakeholders haven’t formally endorsed the existing proposal. They’re making a final push to persuade these investors before the February 2nd deadline. Their message is unambiguous: “Remember, a superior offer exists. Make a prudent choice.”
