Playtech’s head Weizer supports TTB in its takeover bid

Playtech’s head Weizer supports TTB in its takeover bid

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Playtech’s head Weizer supports TTB in its takeover bid

The CEO of Playtech, Mor Weizer, exposed his support of  TTB Partners Limited in its ambition to acquire the company.

Playtech’s authorities revealed Weizer’s intent in an update to stakeholders. The update read:

“TTB affirms that Tom Hall has applied to them and offered to take part in the TTB Investor Group together with Weizer, the head of Playtech. TTB accepted the proposal of their participation”.

The takeover offer by Aristocrat Leisure, which cost £2.7, was rejected by the Asian stakeholders led by the ex-president of Playtech, Tom Hall.

After the general meeting between the stakeholders on 02 February, TTB Partners appeared with a takeover offer.

The board of Playtech is sure that Mor’s participation will be accordant with the terms of the London City Code regarding Corporate Takeovers. They highlighted that his participation with TTB does not ensure that Playtech will receive a compulsory offer of takeover.

Playtech established a special committee to discuss all the matters relating to suggested offers.

Based on the monitoring by the analysts, the sale of the company will result in significant changes in the international gaming industry, as it’s considered to be a major provider of platforms and services for iGaming operators.

Many events are expected to take place as the deal of the company is not a common affair.

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