Jan 20 (Reuters) - Former Formula One team boss Eddie Jordan
has pulled out of a potential bid to buy gambling software maker
Playtech Plc because he is concerned that a group of
Asian investors that recently bought in to the company would
block the deal, the Financial Times reported on Thursday.
Jordan's JKO Play Ltd had been set to propose an offer of
750 pence per share for Playtech, but now plans to publish a
statement on Friday morning announcing its intention to pull
out, the newspaper said https://www.ft.com/content/279768f5-5381-4174-a92e-bcd6e1216a23,
citing three people involved in the process.
Britain's Playtech had received a takeover https://www.reuters.com/legal/transactional/playtech-gets-third-takeover-approach-sets-up-potential-bidding-war-2021-11-18
approach from the company in November, the third expression of
interest, setting the stage for a potential bidding battle.
JKO's approach for the gambling software maker followed https://www.reuters.com/business/australias-aristocrat-leisure-makes-29-bln-bet-online-gambling-provider-playtech-2021-10-17
a 2.1 billion pound ($2.86 billion) bid by Australia's
Aristocrat Leisure Ltd, whose offer has been
recommended to the company's shareholders. Aristrocrat Leisure
has offered 680 pence per Playtech share.
Gopher Investments, Playtech's No. 2 shareholder, walked
away https://www.reuters.com/technology/investor-gopher-walks-away-bidding-playtech-2021-11-19
from a potential three-way takeover battle in November, saying
it was committed to a separate deal to buy a portion of the
business.
JKO and Playtech declined to comment on the matter.
($1 = 0.7350 pound)
(Reporting by Shivani Tanna and Rhea Binoy in Bengaluru
Editing by Matthew Lewis)
Playtech (PTEC)
