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albula investment, a mauritius shell co. bought 2,000,000 shares yesterday.
If his dad's first name was james , they would have made a film out of this . Aristocrat will definitely feel shaken if not stirred !
Bidding war....£8-10?
Hard to say, but I suspect they will have to bid higher than Aristocrats offer and closer to breakup value, I suspect Aristocrats are likely to be p***Ed off by this news especially if this consortium turns out to have the HK crew in it, look like they were mugged in broad daylight, strap in for a bidding war ?? GLA
Is is time to add more shares to my modest punt? My thoughts are that a bid will arrive in due course and for more than the current sp.
Latest from Sky - TT Bond Partners who advised Gopher apparently want to make a fresh bid and have asked the Board to release them from restrictions. For those in the know Bond in TT Bond is John Bond, son of Sir John Bond, former chairman of HSBC and a man who knows everyone worth knowing in HK. So there we have it , next phase of the plan is about to unfold bid ex0ected in next few days, suspect they will let Chinese New Year finish first.
GLA
They invested $1bn to block the deal and see off 3 bidders seizing the momentum. I don't think they will settle for anyone else taking that initiative away and might have indicated interest for component pieces B2C and B2B, so I don't think we will have to wait long for the next part of their plan. Any further buying from HP/APAC and I suspect sp will fly, we are still in play ??
Stefano, yes I believe this is the consensus.
Voting is over and now things should start to move. I am pretty sure the Asians do not want to sit a long time at their nearly 1B USD PTEC position.
Could the reason that they blocked the vote be that they are concerned what Aristocrat would do with the unregulated business. Aristocrat stated that they would not tolerate any unregulated business that would jeopardize their worldwide licenses . Their silence is deafening.
One remark.
Asians cannot buy the PTEC unregulated biz as AFAIK PTEC is just a software provider there (unlike in Latin-America). Thus, if Asians want to keep their grey/black market with PTEC products, they must have a buyer that tolerates unregulated biz. Switching to another provider may be complicated for several reasons (eg. Tom Hall )
Massive number of trades as expected. Been thro. all and only two large trades amongst them. Both 100K buys at 8.30ish am. Agree with TaffTaff and would argue that the asians could now average down on their investment and take advantage of the lower share price and build it to 51% and take full control.The takeover panel ruled that they were not in concert so there you go. Guaranteed they have a plan for a no vote, so this may be it.The pension funds must have given Playtech good warning that they wouldn't be backing the vote for them to issue the RNS before the vote. We have to thank Aristocrat for poking the bear and JKO for exposing how undervalued Playtech is. Sell italy to entain and SPAC caliente and you got most of your money back. Asians buy their unregulated asian market and we are left with one lean machine focusing on the US. Could i be missing something???
so many people buying here- what do they know that we don't? anyone with insight into the matters please
It is not so simple. Asians have taken 28% of free float off the market and will not sell it at current prices. Not sure who is gonna sell here to reach -10%, maybe only some M&A investment funds. IMHO failing of Aristocrat offer is already in the prices.
This will knock another 10% off the sp.
Longterm prospects ok but I really wanted the bid to go through, take profits and walk.
thanks. suppose my votes wouldn't make any difference anyway..
I'm with Hargreaves Lansdown and the voting details were shown on there a few weeks ago.
has anybody on this B/B received any notification regards voting for the takeover ? i have all my accounts with halifax and not received a word ?
6.8 GBP price tag will not see my signature. It is far less than sum of the parts at current prices (including the existing biz, stake at Caliente and SNAI, US biz&opportunity) and leaving out any synergies that different branches of PTEC businesses have (distribution of games, marketing know-how, etc.).
I argue that the situation has also changed compared to the time when Aristocrat made its offer. A few months ago it was not known that Caliente is worth 0.67B GBP more than on the balance sheet (read my post below). It was also not known that the acquisition of Sisal reveals a price for Italian operators that corresponds to 1.5+B GBP for SNAI (roughly 0.5B more than expected by the market).
So we are talking about 1B+ GBP extra value in PTEC which corresponds to 3+ GBP per share.
I believe it is fair to assume Aristocrat did not have insider information about Caliente and SNAI when making the offer.
Now the question is how much I would be ready to give up from the extra 3+ GBP per share to Aristocrat for their immediate cash offer.
I think I would accept the all-cash offer starting from 8.5 GBP per share, which leaves more than 1/3 of the upside to the acquirer. Otherwise, I am ready to wait for divesture, a new offer or continue with BAU.
https://www.thetimes.co.uk/article/asian-investors-could-yet-block-playtech-sale-b6w7b5n0n
Just read another of interest
https://www.thetimes.co.uk/article/rich-hold-the-aces-in-playtech-takeover-d7s605fr3
Excellent summary in today's Times.
STEFANOS: Thanks. Even more reason to remain holding.
gruyere.. consensus is that the sum of parts is far greater than the £6.80 offered. The latest conservative figure out there is that £9 is achievable with ease. The directors are keen to get the aristocrat offer through as they will be getting substantial bonuses and salary increases as incentives which is the norm. If you go back in the posts ,there are some detailed breakdowns of book values of all their operations. One analyst at the weekend described PTEC as a hidden gem. I was worried that the asians had us by the b*lls.
Stefanos: Agreed and at least there sounds like there is a back up plan. Who knows, maybe the sum of the parts might be greater than the whole. It is also a bit of an arm twist to the Asian investors.
nice to hear that playtech will play the asians at their own game. if they block the takeover then they will break up the company and sell all of it peacemeal to highest bidders so we get full value of sum of parts. Must have really p*ssed of playtech to get so stroppy.
I suspect that JKO couldn't get all the figures together cash wise and Eddie Jordan was using Asians as an excuse to save face. If he was a lolly , he would lick himself. Just have to sit this out. Pure luck, but sold out of TGA reluctantly on friday and went all in on ptec. Saved a pretty penny. Taking it as a good sign..