Gopher Investments tables $4bn rival bid for Playtech
Follows the $2.8bn made by the Australian company Aristocrat Leisure in October.
As now confirmed by Playtech, Gopher Investments has tabled a takeover approach for the British provider.
Gopher Investments has partnered with bankers at Rothschild to formulate a $4.05bn offer.
This follows a previous bid made by the Australian gaming stalwart Aristocrat Leisure, worth approximately $2.8bn.
Presently, Gopher owns a 4.97% stake in Playtech and is now seeking access to due diligence information as it explores the terms for a potential takeover.
As media speculation continues to spread, Playtech has issued a statement regarding the bid: “Discussions with Gopher are at an early stage and ongoing. As such, there can be no certainty that Gopher’s approach will result in an offer for the Company, nor as to the terms on which any offer might be made.
“This announcement has been made without the prior consent of Gopher or Aristocrat,” Playtech added. “A further announcement will be made as and when appropriate.”
Gopher’s initial approach came on October 21, 2021, and has the potential to start a bidding war over the UK-based supplier.
Speaking on the rival bid, Aristocrat has commented that it will “continue to work with Playtech to progress the recommended acquisition and urges Playtech shareholders to vote in favor of the Aristocrat recommended acquisition at the shareholder meetings once the Scheme Document has been published.”
Playtech operates in both the gaming and financial trading industries. Founded in 1999, the supplier is traded on the London and New York Stock Exchanges and aims to provide gaming solutions to operators globally.
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