Playtech addresses media speculation regarding JKO Play Limited takeover bid
This is the third such bid the company has received in the last two months.
Playtech has responded to media speculation regarding an attempted takeover bid by JKO Play Limited, after news broke of the proposed purchase.
“Playtech notes the recent media speculation in relation to a further possible offer for the Company. The Board of Directors of Playtech (the “Board”) confirms that on 5 November 2021 the company received a preliminary approach from JKO Play Limited seeking access to certain due diligence information, in order to explore terms on which an offer for all of the issued and to be issued share capital of Playtech might be made,” a statement from the board noted.
“JKO is a company controlled by Mr Eddie Jordan and Mr Keith O’Loughlin. JKO’s preliminary approach indicated that it was in discussions with Centerbridge Partners L.P. amongst others, regarding the possibility of it providing institutional debt and structured capital funding. Diligence remains on-going and no financing commitment has been provided by Centerbridge. Other sources of debt finance are also being considered.”
This comes after Playtech received similar takeover bids from both Gopher Investments and the Australian gaming company Aristocrat. The former bid was made on October 21 and confirmed on November 8.
Aristocrat’s bid was confirmed by Playtech on October 17, regarding the takeover attempt, Playtech said: “It was announced under Rule 2.7 of the Code that an agreement had been reached on terms pursuant to which Aristocrat will acquire the entire issued and to be issued share capital of Playtech for 680p per share in cash, subject to the satisfaction of certain conditions, including shareholder approval of the sale of Finalto.”
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