Aristocrat and Playtech Delay Investor Meeting Amidst JKO Play’s Interest

High-roller Aristocrat and tech firm Playtech are pushing back their investor gathering concerning a potential union due to ongoing engagement from a separate entity, JKO Play.

Aristocrat initially put forth a proposal to acquire Playtech in Autumn 2021 for $9.21 per share. Nevertheless, a different consortium, JKO Play, has lately surfaced as a possible contender, prompting a postponement of the shareholder ballot on Aristocrat’s proposition. The vote was originally slated for January 12, 2022, but will now transpire on February 2, 2022.

This deferral aims to provide JKO Play until January 26, 2022, to either present a formal offer for Playtech or step back from the proceedings. Currently, Aristocrat’s bid stands as the sole official proposal. Although Aristocrat recognizes the necessity of affording prospective bidders sufficient opportunity to weigh their choices, they also maintain that additional postponements merely extend the lack of clarity for Playtech stakeholders.

The firm also highlighted that the authorization procedure is progressing according to plan and restated its dedication to finalizing the purchase at the earliest opportunity.

Apparently, the vendors are quite keen to see this agreement concluded…