Australia's Aristocrat Agrees On Terms To Buy Playtech For 680 Pence/share In Cash

Aristocrat Leisure Ltd. (ALL.AX, ARLUF.PK), an Australian gaming content and technology company, announced Monday an agreement on the terms of a recommended cash acquisition of Playtech Plc (PTEC.L), a gambling software development company, for 680 pence per share in cash.

The acquisition values Playtech at approximately 2.1 billion pounds on a fully diluted basis and at approximately 2.7 billion pounds on an enterprise value basis.

The per share price represents a premium of approximately 58.4 percent to the Closing Price per Playtech Share of 429.2 pence on October 15, being the latest practicable date prior to publication of the announcement.

The Playtech Directors consider the terms of the deal to be fair and reasonable. Accordingly, the Playtech Directors intend to recommend unanimously that the Shareholders vote in favour of the Scheme at the Court Meeting.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT