Playtech Share Discussion Threads

[cambridgedon] 22/1/2022 10:15

Can someone explain why, having paid £7+ they would want to block a takeover which will drive the price down?
CD

[ali47fish] 22/1/2022 10:02

22 January
The Times: Tom Hall, the Hong Kong-based former chief executive of Playtech, has built a stake in the company and is thought to be acting as a conduit for a group of Asian investors said to be seeking to block a takeover.

[tonysss13] 21/1/2022 22:03

over 30% they have to make a bid at the highest price paid, assuming they can be proved to be a concert party

[privileged] 21/1/2022 19:55

Buy the other 73% sub £6 then pay the Asians back for their stake at the price they paid.

[privileged] 21/1/2022 19:53

Sure but who will they buy from? It's a blocking stake

[outsizeclothes.com] 21/1/2022 17:45

If the Asian investors, having paid £7+ a share, now look to block the Aristocat £6.80 a share deal with a 27% stake, and their actions drive the shareprice down, what's to stop Aristocat buying in the market?

[dr biotech] 21/1/2022 13:30

Former Formula One team boss Eddie Jordan has pulled a potential bid for Playtech, the gambling company, because of concerns that a group of Asian investors that recently bought into the company would block the deal….

Jordan’s acquisition vehicle, JKO Play, had been set to propose an offer of 750p….
.Two advisers working on the deal separately said JKO had decided not to go ahead with its offer over concerns that a block of Asian investors, who have been building stakes in Playtech since October and now own about 27 per cent of the company, would obstruct any deal that did not meet their perceived value of the company.


All very odd. How much do they think it’s worth and who’s going to pay it?

[clever] 21/1/2022 13:16

The logic points to they want to own the whole thing, perhaps they dont mind paying over 7 pounds a share. But logic doesnt always work out

[farrugia] 21/1/2022 13:05

and why would they buy at above the offer price Clever only to sell below it to Aristocrat?

[clever] 21/1/2022 12:57

Why would they block the deal?! They paid well over 7 pounds per share to build up that 27% stake

[cambridgedon] 21/1/2022 12:54

The FT says they have 27% which is enough if PTEC need 75% acceptance.
CD

[farrugia] 21/1/2022 12:37

are you sure it is a blocking stake liam? how much do they need to have to block? the market does seem concerned

[liam1om] 21/1/2022 09:57

Because Asian investors have built up a blocking stake. They could vote against the Aristocrat offer. The discount is due to the risk of this not happening.

[winslowboy] 21/1/2022 09:50

The Playtech Board accepted the Aristocrat Offer of 680,which as I understand is still valid.
So why has the share price dropped to 625?
And why are investors not buying into this.

[dr biotech] 21/1/2022 09:08

If enough of the other holders back the bid it won’t matter. Question is how much do they hold and what are their motives? I sold on the first bid, felt a bit stupid that I didn’t hold for longer but now it’s not so bad. We’re all great traders retrospectively.

[tonysss13] 21/1/2022 08:47

liam1om they can't bid below the highest price they paid I believe

[bulltradept] 21/1/2022 08:33

Below £6?

[liam1om] 21/1/2022 08:32

Exactly, looks like they will block the bid, but then what? Wait for the offer to collapse then come in and low ball?

[cambridgedon] 21/1/2022 08:24

Board is worried that the Asian concert party will vote against Aristocrat offer presumably.
CD

[liam1om] 21/1/2022 08:12

Anyone worried about this:

The Board continues to seek engagement with all of its shareholders regarding the Aristocrat Offer. However, a number of material investors have not to date engaged meaningfully about their views on the Aristocrat Offer, including certain investors that have disclosed or taken material positions in the Company following the announcement of the Aristocrat Offer. The absence of customary levels of engagement means that the Board is approaching the Court and General Meetings without a clear understanding of whether these shareholders are supportive of the Aristocrat Offer.

[ali47fish] 21/1/2022 08:03

sp back down to 660

[farrugia] 21/1/2022 07:26

so how is still in the race to acquire playtech now?

[ali47fish] 20/1/2022 22:16

so what now?

[clever] 20/1/2022 21:49

Eddie Jordan pulls out of race to buy PlaytechFormer F1 team boss concerned that group of Asian investors would block dealhttps://www.ft.com/content/279768f5-5381-4174-a92e-bcd6e1216a23