19th Aug 2021 12:08
(Alliance News) - Gopher Investments on Thursday said it welcomes the decision of Playtech PLC shareholders to reject the proposed USD210 million sale of its financial trading division to a rival bidder, and it has re-entered talks to buy the business.
At the gambling software company's general meeting on Wednesday, shareholders voted 68% against the deal to sell the Finalto business for USD210 million, to a consortium led by Barinboim Group and members of the division's management team.
Gopher said it "looks forward to engaging with the board regarding its USD250 million offer for Finalto and working to complete the acquisition in an expedient and transparent manner."
Earlier in August, Gopher urged Playtech shareholders to reject the Barinboim-led bid, which Playtech announced in May, in favour of its own.
Despite the shareholders' rejection of its offer, the consortium has not given up on buying Finalto. From Wednesday, the consortium has 30 days to re-enter the sale and purchase agreement, should the parties agree to do so.
Shares in Playtech were trading down 1.7% at 392.20 pence each in London on Thursday afternoon.
By Scarlett Butler; [email protected]
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