Playtech Allows TTB Partners To Make Offer For U.K. Gambling Software Company

U.K. gambling software company Playtech plc (PTEC.L) confirmed Thursday that on 2nd February 2022 it was contacted by TTB Partners Limited on behalf of an investor group to be formed and advised by it requesting that Playtech consent to release TTB from its restrictions under the U.K. rule. The release was requested to allow a possible offer for the company to be considered.

Playtech confirmed that it has given the requested consent to TTB. There can be no certainty as to whether this the result in an offer for the company, nor as to the terms on which any offer might be made. However, any offer, if made, is likely to be in cash.

On 19 November 2021, Gopher Investments, an affiliate of TTB, said that it had no intention of making an offer for Playtech and, as a result of that announcement, TTB was bound by the restrictions imposed by the U.K Rule for a period of six months, which ends on 20 May 2022.

As per the U.K Rule and following Aristocrat (UK) Holdings Limited's Offer having lapsed, the Restrictions were capable of being set aside at any point in the Restricted Period in certain circumstances, including with the consent of the Board of Playtech.

on 2nd February 2022, Playtech's shareholders rejected 2.1 billion pound offer from an Australian gaming content and technology company, Aristocrat Leisure Ltd. (ALL.AX, ARLUF.PK).

Aristocrat had required approval from 75% of Playtech shareholders at Wednesday's meeting, but less than 55% of votes were cast in favor of the deal.

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