Zona de Azar UK – Playtech Considers Strategically Selling Off Assets If Aristocrat Deal Fails

UK.- January 27, 2022 www.zonadeazar.com UK-based software firm, Playtech, has signalled its intention to take drastic action if a proposed takeover bid is internally blocked by a small group of shareholders.

A $2.7B acquisition move by Aussie betting machine giant Aristocrat is currently under review. However, the merger is under threat from a rogue cartel of Asian-based shareholders, who threaten to offset an upcoming shareholder vote.

If a 75% majority required to push through the deal is not attained, Playtech’s directors could well execute a considerable dismantling of its component parts. Led by current Chairman Brian Mattingley, and supported by the company’s banking advisors, Playtech’s senior leadership team have earmarked several of its assets for sale.

Their Italian online venture with Snaitech would be disposed of to the highest bidder, and the software operator may sell its high-performing B2B division also.

A spokeswoman for Playtech stated, ‘the board reiterates its recommendations that shareholders vote in favour of the offer from Aristocrat’ and that the deal presents ‘an attractive opportunity for shareholders to accelerate the delivery of Playtech’s longer-term value’

This latest controversy transpires amidst the recent withdrawn takeover bid from former F1 mogul, Eddie Jordan. This too was seemingly dropped due to concerns about the long-term plans of the aforementioned shareholder group.

The all-important vote takes place next week.

Edited by: @_fonta  www.zonadeazar.com