PRESS: Playtech takeover battle heats up with potential third bidder

(Alliance News) - Playtech PLC could be set to be on the receiving end of a third separate takeover offer, Sky News reported Wednesday.

Eddie Jordan, the former Formula One team-owner, is part of a consortium plotting a GBP3 billion-plus counterbid for the gaming software provider.

Sky News said a firm founded by Jordan is working with a US-based investor - thought to be Centerbridge Partners - on financing an offer for Playtech.

The consortium is said to have made a preliminary approach to Playtech's advisers.

https://news.sky.com/story/former-f1-boss-jordan-revs-up-3bn-counterbid-for-london-listed-playtech-12471088

This third approach follows Gopher Investments making an approach for the company - a couple of days after Playtech accepted Aristocrat Leisure Ltd's GBP2.1 billion offer.

Playtech said it received the offer from Gopher on October 21. On October 17, it backed a GBP2.1 billion takeover from Sydney-listed Aristocrat Leisure.

The 680 pence offer from Aristocrat, which manufactures gambling machines and casino management systems and also publishes mobile games, was a 58% premium to Playtech's 429.2p per share closing price the last trading day before the offer. The offer values Playtech's equity at GBP2.1 billion. On an enterprise basis, meaning including debt, it values the company at GBP2.7 billion.

Shares in Playtech closed at 732.50 pence in London on Wednesday.

By Paul McGowan; paulmcgowan@alliancenews.com

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