(Alliance News) - Playtech PLC announced on Friday the deadline for TTB Partners Ltd to make a takeover offer for the company.
The FTSE 250-listed gambling software firm said that TTB must announce its firm intention to make on offer for the company by June 17. This deadline can only be extended with consent of the Takeovers & Mergers panel.
It added that discussion between the companies are ongoing but added that there is no certainty that an offer will be made or on what terms any offer may be made.
The Hong Kong-based finance company expressed interest in making an all-cash offer for Playtech back in February, after Playtech shareholders voted down an offer from Australia's Aristocrat Leisure Ltd.
Shares in Playtech were up 5.7% at 534.00 pence on Friday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Playtech (PTEC)