{"id":267,"date":"2024-06-27T21:28:15","date_gmt":"2024-06-27T18:28:15","guid":{"rendered":"https:\/\/nodepositfreespins.icu\/2024\/06\/27\/playtech-delays-shareholder-meeting-amidst-rival-bid\/"},"modified":"2024-06-27T21:28:15","modified_gmt":"2024-06-27T18:28:15","slug":"playtech-delays-shareholder-meeting-amidst-rival-bid","status":"publish","type":"post","link":"https:\/\/nodepositfreespins.icu\/2024\/06\/27\/playtech-delays-shareholder-meeting-amidst-rival-bid\/","title":{"rendered":"Playtech Delays Shareholder Meeting Amidst Rival Bid"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/k-zEDysPAYo\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Playtech has delayed its gathering of stockholders to authorize the takeover proposal from Aristocrat, providing extra time to consider a possible rival proposition from JKO Play.<\/p>\n<p>Aristocrat, an Australian maker of slot machines, agreed to buy Playtech for about \u00a32.7 billion (\u20ac3.23 billion\/$3.65 billion) in October 2021. The legal and shareholder meeting related to the proposal, originally slated for January 12, has been moved to February 2 to allow JKO Play more time to finalize the details of a possible bid for the gaming technology behemoth.<\/p>\n<p>JKO Play, controlled by former Formula One team head Eddie Jordan and veteran of the industry Keith O&#8217;Loughlin, emerged as a possible bidder for Playtech in November 2021. While no offer has been made yet, JKO Play has been given access to due diligence information and has been in touch with Playtech since their initial approach in November.<\/p>\n<p>Playtech stated that these talks are ongoing and that JKO Play has asked for more time to formulate a possible offer. JKO Play must make their position clear by 5 pm on January 26, indicating whether or not they will submit a proposal. <\/p>\n<p>JKO Play was initially scheduled to present a formal proposal for Playtech by the fifth of January. This date was agreed upon by both sides, including Aristocrat. However, this date has been moved to the day of the rescheduled gathering.<\/p>\n<p>Playtech explained that due to current conditions, they believe it&#8217;s best for their investors to delay the shareholder meeting to carry out Aristocrat&#8217;s takeover bid. The meeting was initially planned for the twelfth of January. They&#8217;ve set a new deadline for JKO Play to make their intentions regarding Playtech clear, which aligns with the new date of the postponed shareholder meeting.<\/p>\n<p>However, Playtech also stated that even though the meeting has been delayed, it&#8217;s still unclear whether JKO Play&#8217;s proposition will actually result in an offer. The details of any possible offer are also unknown.<\/p>\n<p>Playtech&#8217;s board continues to unanimously suggest that investors vote in favor of Aristocrat&#8217;s bid. They believe it provides certainty and liquidity.<\/p>\n<p>Aristocrat responded to the postponement by highlighting that their offer is the only formal proposal on the table. They believe it offers Playtech investors compelling value in cash and enhanced regulatory and financial certainty.<\/p>\n<p>Aristocrat also pointed out that any other possible bidders have had sufficient time to put forward alternative suggestions for Playtech. <\/p>\n<p>The choice to postpone the shareholder gathering once more has put everyone associated with Playtech in a state of uncertainty.<\/p>\n<p>The agreement was initially anticipated to be completed in the springtime of 2022.<\/p>\n<p>In December of the previous year, Playtech investors voted to sell their financial trading branch, Finalto, to Gopher Investments. This was a crucial step for the Aristocrat transaction to proceed.<\/p>\n<p>Gopher had previously expressed interest in acquiring Playtech, but they withdrew from the arrangement a couple of weeks later. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Playtech has delayed its gathering of stockholders to authorize the takeover proposal from Aristocrat, providing extra time to consider a possible rival proposition from JKO Play. Aristocrat, an Australian maker of slot machines, agreed to buy Playtech for about \u00a32.7 billion (\u20ac3.23 billion\/$3.65 billion) in October 2021. The legal and shareholder meeting related to the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Playtech Stockholder Meeting Delayed: JKO Play<\/title>\n<meta name=\"description\" content=\"Playtech pushes back shareholder vote on Aristocrat takeover, giving JKO Play more time to finalize its rival bid. 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