By Joe Hoppe
Gopher Investments said Friday that it no longer intends to make an offer for Playtech PLC, though it will still acquire Playtech's financial-trading division, Finalto.
Gopher, a 4.97% shareholder in Playtech, expects to complete the Finalto acquisition in the first half of 2022.
The company had made a preliminary 3 billion pound ($4.05 billion) bid for Playtech, which it first disclosed on Nov. 8. Previously, on Oct. 17, Playtech had agreed to a GBP2.1 billion takeover from Aristocrat Leisure Ltd., and Playtech has said it also received a preliminary acquisition approach from JKO Play Ltd. on Nov. 5.
Shares in Playtech at 1215 GMT were down 22.5 pence, or 2.9%, at 747.5 pence.
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(END) Dow Jones Newswires