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PYUECK - so you think they have bought over a quarter of the company north of 700p just to sit on it? Interesting, not totally implausible...perhaps you are right but there are too many potential bidders for this not to get sold IMO
That was my thinking, Aristocrat need to engage the Asians and thrash out a deal for that section of the business.
It's all very well saying that they will block any deal that undervalues the company. The issue is that this is the best deal on the table and too me this share is still trading with a 200p premium due to the takeover. No takeover in my view and this will be back under 500p immediately, maybe under 400p.
The market is generally looking very choppy now, especially for tech stocks. A lot in the sector have had an amazing ride and some deals at incredible deals have been done. May not last forever. For me the risks with this one are now too large, i considered buying but now will watch on with interest.
guaranteed that they will block the offer at £6.80 as that's when they started buying, they paid around £7.50 per share then. My guess is that they will sell to Aristocrat but exclude the unregulated asian operation which Aristocrat don't really care about and squeeze a higher price for the rest. They will have incurred some heavy costs putting this stake together so they are not letting it go cheap..JKO must have had talks with them and realized they meant business. If we sit this one out we should be well rewarded.. Just praying TGA doesn't shoot up whilst i'm out...GLA
I have left some powder dry in case there is more weakness but the vote for the £680 is on 02 Feb so not long to wait really
Yes. She's my wife and fully house trained.!
Lol Stefano - assume you mean to raise more funds to buy this, as opposed to a dog haha!
FT says the HK crew have amassed a blocking stake of 27% of PTEC. They say they will obstruct any deal that does not meet their perceived value of the company. Spent the last few hours selling everything possible and jumping further in on PTEC.. Anybody want to buy a dog ????
I have taken a position around 580, expect that will see me in profit when this concludes. Asian investors would not have bought above bid price just to block and sit there with their cash doing northing for years
I sold some months ago after the first bid and was very pleased to make a clear £2k profit. I then kicked myself a few weeks later wishing I had stayed and made more but now I see the sp below 600p!
What do board members think a fair price for a bid is as of today?
This drop makes no sense, with so many interested parties why it would trade well below firm offer is beyond me, the Asian investors will not be blocking it just for the sake of it, they just want first dibs on the Asian part of the business.
Bad news this morning. It would be interesting to know why they decided not to progress with it. But of course we'll never know
anyway, given the current share price, it's clear the market thinks even the Aristocrat bid won't go through. And to be fair I'm not too sure I would support it, the company seems to be undervalued at 680.
****.
jko withdraws
Bid by JKO has to be made before 5 pm on saturday. They cannot make a bid thereafter for 6 months is my understanding. The HK crew can whenever they wish as they have yet to show their hand or any interest. The silence here is deafening and my gut feeling is that this will go to an auction. If so , the shareholders will be well rewarded for their patience and nerve. GLA
The Jordan consortium has not walked away and the sp remains well above 680p. Odds of a rival bid next week surely favourable?
God....How close do they want to call this ???? Not needed to diet to lose weight these last couple of weeks!
Playtech signs new strategic partnership with NorthStar Gaming in Canada
Deadline for JKO bid is 5pm. 22nd january
The elusive partner for Eddie Jordan is Vikrant Bhargava who is a billionaire. So let's hope the funding is there for an increased bid of approx. 3billion by 26th January. And then who knows where this will go.
GLA
Sunday Times ... The co-founder of party gaming is now backing the bid from JKO financially, so it can now progress..
Just been browsing as i have to much time on my hands, and noticed a guy called Harald Mcpike Zama has just cashed out on Playtech and sold 3,120,183 shares. Look him up, what a fascinating man. He's been there , done it and worn out the t shirt. If ever a man had a bucket list , he has.
cannot see HK crew getting involved just for cash profit. They are all mega wealthy. Karen Lo is a multi billionaire. She wouldn't get out of bed for the cash premium involved. Think of all the behind the scene logistics involved in synching everybody together, all the purchases of stock, the expenses involved, the time they will have spent planning every move. They want all or to make sure they get parts that interest them. They will pull all the strings or they will block the bid if anybody does not play ball These are real gamblers .
Thinking aloud :
HK crew have largely bought in at up to 750p and are likely to expect a decent premium to support any bid. If they have the magic 25% or close to it, then they could scupper any bid, perhaps Aristocrats need some extra weeks to sort out the necessary funding for an increased bid..... ?
From my reading of the RNS the extension was granted after Playtec pushed back til Feb shareholder's meeting not JKO
I suspect the shareholder meeting pushback might have something to do with trying to get a handle on what folks in HK are up to, so perhaps Aristocrats instigated ?
On 5 January 2022, Playtech announced that the shareholder meetings to
approve the offer for Playtech by Aristocrat will be adjourned to 2 February
2022.
In the light of this, the Executive has ruled that, unless the Executive
consents otherwise, JKO must now by 5.00 pm on 26 January 2022,