(Sharecast News) - UK gambling software maker Playtech said it did not think shareholders would approve a takeover offer by Australia's Aristocrat Leisure based on proxy counts, adding it was looking at "attractive alternatives" if the deal collapsed.
Playtech needs approval from 75% of shares voting at a general meeting later on Wednesday in the day to go ahead with the £2.1bn bid.
The deal has come under threat after the emergence of a bloc of Asian investors with around 27% of the company whom Playtech accused of not engaging with it on the deal.
Playtech said it was evaluating attractive proposals it has received from third parties for its business-to-business and business-to-consumer divisions.
In a trading update released with Wednesday's announcement, Playtech said that annual adjusted earnings before interest, tax, depreciation and amortisation would be ahead of its previous expectations.
Playtech shares surged more than 70% after Aristocrat first made its 680p-a-share offer last October. The company attracted interest from other potential bidders and speculators took positions in its shares hoping for a bidding war. That ultimately failed to materialise, with prospective bidders including ex-Formula One team boss Eddie Jordan walking away without making a firm offer.