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I suspect the TT Bond backers might have wanted Weiser along for continuity and likewise, Hall is the linchpin to the HK guys (who can now magically overcome the act in concert challenge) , I think the ducks are lining up nicely

So looks like we should beat the 680p on any offer and now CEO is getting into bed with TTBond bidders

Update re: possible offer



On 3 February 2022, the Board of Playtech (the "Board") announced that it had consented to a request from TTB Partners Limited on behalf of an investor group to be formed and advised by it ("TTB") to release TTB from its restrictions under Rule 2.8 of the Code to allow a possible offer for the Company to be considered. TTB indicated to the Board in a letter dated 3 February 2022 that it expects any offer, if made, will be at a higher value than the recommended cash acquisition by Aristocrat Leisure Limited of 680p per share, announced on 17 October 2021.



Further to the recent media speculation, the Board announces that on 20 February 2022 it was notified by Mor Weizer, Director and Chief Executive Officer of Playtech, that he wishes to explore participating in the investor group formed and advised by TTB in considering a possible offer for the Company. Mr. Weizer and Thomas Hall, a former Director of Playtech, have approached TTB with their interest in participating in the investor group.



The Board will now form an independent committee consisting of the Playtech Directors excluding Mr. Weizer (the "Independent Committee") to consider all matters relating to any possible offer from TTB and any other M&A proposals Playtech receives. The Independent Committee is and will remain especially mindful of their obligations to Playtech stakeholders and the requirements of the Code.

Hi Stefano , not sure they have

I only noticed the disclosure with ... By a Party to an Offer on two RNS

1. TTS Bond- Gopher , just under 5% , but we knew they were working in concert from the origional announce post Aristocrats collapse,

I haven't observed where any of the other HK crew are using it
2. Ptec might-around current holdings and stock options

I am guessing the HK crew are for now maintaining plausible deniability:)

Thanks Stephano, is there a link ?

Must be getting close to offer time :)

Has there been any formal disclosure of the TT Bond parties ?

The collective HK crew has to be in excess of the 29.9% for declari g intentionally s, making a mockery of takeover rules

I think you are spot on Stefano5, interesting seems to be climbing ahead of US open, we are just past Superbowl Sunday a big day in the US betting calendar

I suspect Aristocrats will not take too kindly to having been outmusled and left with egg on thier face and will put it up to BondTT/HK crew, north of £850p would be quite a nice result for shareholders ??

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

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 ??

I suspect they are calculated risk takers, the only hand open that won't lose them money is to go north of 680 p on the table and squeeze value out of Aristocrats, I am hoping either they want it at say 750p themselves or want closer to say 850p+ increased bid from Aristocrats as 750p from JKO didnt entice them to talk

Not long to wait til 2nd Feb, unless it is further postponed.

I am finding it hard to imagine any realistic scenario where Ptec doesn't get bought for less than 750p+ once this all plays out - any views?

I suspect the reason they haven't engaged is to avoid confirming they are acting in unison which would force them make intension clear, by waiting in the wings the competition is now out of the running for 6 months, so just them and Aristocrats, to whom they could then sell off what they dont want and reduce the cost of purchase. I suspect any news of a counter offer will not come until just before 2nd Feb. Likewise the others could also build up a blocking stake against HK, at some point they will have to sit down and all be adults.

Thinking aloud :

HK crew have largely bought in at up to 750p and are likely to expect a decent premium to support any bid. If they have the magic 25% or close to it, then they could scupper any bid, perhaps Aristocrats need some extra weeks to sort out the necessary funding for an increased bid..... ?

From my reading of the RNS the extension was granted after Playtec pushed back til Feb shareholder's meeting not JKO

I suspect the shareholder meeting pushback might have something to do with trying to get a handle on what folks in HK are up to, so perhaps Aristocrats instigated ?

On 5 January 2022, Playtech announced that the shareholder meetings to
approve the offer for Playtech by Aristocrat will be adjourned to 2 February
2022.

In the light of this, the Executive has ruled that, unless the Executive
consents otherwise, JKO must now by 5.00 pm on 26 January 2022,

I am thinking sum of the parts carve up coming that will fuel the takeover sp I.e. Jordan bid with carveouts of Finalto (Gopher) , Caliente (SPAC) and imagine the HK folk want the unregulated Asia Market for thir stake ( to block they need to own 25% as I understand it).

Interesting weeks ahead

Guess Aristocrats can see this slipping away unless they up their offer quickly !!!

Keep an eye over Xmas !!

Does explain why our HK friends were happy to buy at 750p

Divestment of Caliente and Finalto could generate a $1.25bn liquidity event which heavily cushions the top line investment number being quoted of $3 bn or $2.4 bn net of debt

Does explain why our HK friends were happy to buy at 750p

Divestment of Caliente and Finalto could generate a $1.25bn liquidity event

John09 from another bb spotted this update from sky

hxxps://news.sky.com/story/bets-placed-on-3bn-playtech-bidding-war-as-univision-backed-spac-deal-nears-12495728

Good read - in a nutsgell 750p a share , bid expected in a couple of days from Mr Jordan and likely Aristocrats might counter

GLA

Fyi - Sunday Business Post

Jordan confirmed as bidder for ‘£3bn’ gaming firm Playtech

Consortium backed by F1 legend confirms it will meet January deadline to make formal bid on gaming giant