Playtech Receives Takeover Bid From Gopher Investment

Gambling software development company Playtech Plc. (LON: PTEC) says that it has received a takeover bid from Hong Kong based private equity investment firm Gopher Investment which is also the company’s second largest shareholder.

Playtech made this announcement on November 8 several weeks after it had entered into agreement with Australia based gambling machine manufacturer Aristocrat Leisure Limited (ASX: ALL).

Aristocrat had earlier submitted a 2.1 billion pounds takeover bid for Playtech but this could be overtaken by events since Gopher is possibly offering much more than this.

Currently, Gopher holds around 5% stake in Playtech, according to the announcement, Gopher made a preliminary approach to Playtech on October 21 requesting some access on some due diligence information which would help it on coming up with terms for the possible offer.

Playtech acknowledges Gopher has reached out however, it says the talks are still on initial stages, the company failed to reveal terms of the potential bid but according to Sky News, the deal is valued around 3 billion pounds ($4.05 billion).

 

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