A high-ranking individual has taken advantage of the chance to restate their acquisition proposal for Playtech after the group headed by Eddie Jordan retracted its offer. The firm released a communication in reaction to JKO Play’s departure, reaffirming its all-cash purchase proposition.
Aristocrat brought to the attention of Playtech investors that it stands as the exclusive contender following JKO’s withdrawal and asserted that its proposal presents “complete and equitable worth” with “appealing cash assurance.”
“The Aristocrat Proposal represents the solitary concrete offer accessible to Playtech stakeholders, notwithstanding interactions with prospective bidders spanning numerous months, and the Playtech board persists in its strong endorsement of the Aristocrat Proposal,” the firm stated.
“Aristocrat further affirms that the regulatory authorization procedure is progressing as planned, and it is dedicated to finalizing the acquisition at the earliest feasible time.”
“Aristocrat emphasizes that the provisions of the endorsed acquisition furnish Playtech shareholders with comprehensive and just value, accompanied by enticing cash certainty.”
The governing bodies of both entities proclaimed the suggested cash acquisition of Playtech on October 17, 2021, at a valuation of 680 pence (US$9.22) per share. Nevertheless, in the preceding November, JKO Play conveyed its interest in procuring the company, hinting at a potential contest among bidders.
Amid speculation that Jordan had obtained billions in financing for his proposal from British-Indian entrepreneur Vikrant Bhargava, that assertion proved to be false. With JKO’s withdrawal, it’s evident that such funding will never materialize.
Aristocrat conveyed its appreciation to shareholders who have yet to take a position on the bid, urging them to cast their votes in favor.
The firm remarked: “Aristocrat acknowledges Playtech’s statement regarding several significant investors who, to Playtech’s understanding, have not engaged substantially with the Recommended Acquisition.
“Aristocrat implores all Playtech stakeholders to endorse the Recommended Acquisition at the upcoming shareholder gatherings scheduled for February 2, 2022.”
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