Playtech prolongs the deadline for TTB to propose an offer
At first the date of the deadline was set on June 17th, but now the deadline is on July 15th as they need more time for negotiation, and this is the best way for both shareholders and stakeholders.
Now TTB needs to make the final decision on whether to make an offer or not. If it is needed the deadline is going to be pushed back by Panel on Takeovers and Mergers’ approval.
TTB used to be under restrictions that is why they did not have the opportunity to make a bid for Playtech. After they were free of the restrictions, they had indication of intent.
Back in February, Aristocrat bid 2.7 billion dollars for the company but as they did not have enough support from the stakeholders it didn’t succeed.
At the same time the chief executive officer M. Weizer announced that he fully supports the takeover by the TTB. Ex chief executive officer T. Hall agreed with Weizer.
Playtech stated that everything is in the process. It is expected that the TTB’s offer is going to be more than Aristocrat’s but according to the company they cannot be sure that TTB is going to make a new offer.