Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Playtech investor Gopher pulls out of potential takeover battle

11/19/2021 | 08:16am EST
FILE PHOTO: Businessman toy figure is placed on gambling chips in front of displayed Playtech logo in this illustration taken

(Reuters) -Gopher Investments, the No.2 shareholder in Playtech, walked away from a potential three-way takeover battle for the British gambling software maker on Friday, saying it was committed to a separate deal to buy a portion of the business.

Playtech's shares were trading 5% lower at 7.3 pounds by 1233 GMT, giving up all of gains made in the last session after the company said it had received a takeover approach from JKO, a group led by former Formula One boss Eddie Jordan.

Gopher said the process relating to its $250 million deal to buy Playtech's financial trading division, Finalto, was ongoing and expected to close next year second half.

Hong Kong-based Gopher, which has a 4.97% stake in Playtech, had gatecrashed an earlier sale agreed between Playtech and a consortium led by Israeli private equity firm Barinboim for the unit.

Playtech, founded at the turn of the millennium and today the world's largest online gaming software supplier, declined to comment on the Gopher announcement on Friday.

Playtech's board has recommended a 2.1 billion pound offer from Australia's Aristocrat Leisure for its overall business to shareholders.

(Reporting by Muvija M and Sachin Ravikumar in Bengaluru; Editing by Shinjini Ganguli)

ę Reuters 2021
Latest news "Economy & Forex"
03:47aHang Seng inches higher on property, consumer boost
03:47aFrance's TotalEnergies withdraws from Myanmar
03:46aZambia's finance minister situmbeko musokotwane says expects fu…
03:44aChevron says it is working on a planned orderly transition to ex…
03:40aSwiss bank UBP boosts assets under management 8.8% in 2021
03:39aSterling Falls After Weak UK Retail Sales Data
03:37aChina expects to meet charging demand of 20 million-plus EVs by end of 2025
03:37aBRITAIN WARNS PUTIN AND XI : West will stand up to 'dictatorship'
03:35aAnt Group is connected to former Hangzhou party secretary's corruption case - FT
03:31a'Bat Out of Hell' singer Meat Loaf dies aged 74
Latest news "Economy & Forex"