Playtech boss could join investor group for possible takeover bid
February 21, 2022
(Reuters) – The boss of British gambling software maker Playtech may participate in a takeover approach for the group led by its second-largest shareholder TTB Partners, the company said on Monday.
Playtech Chief Executive Mor Weizer and a former company director, Thomas Hall, have approached TTB Partners with their interest in participating in the investor group, Playtech said in a statement.
The company this month agreed to release TTB from UK takeover rules that bar parties or their affiliates from making a fresh offer for six months after walking away from an earlier bid. TTB advised affiliate Gopher Investments on a failed takeover proposal for Playtech last year.
Shareholders in Playtech, which says it is the world’s largest supplier of online gambling and sports betting software, also rejected Aussie gaming company Aristocrat’s $2.8 billion takeover offer this month.
Playtech’s board of directors will form an independent panel of directors excluding Weizer to consider matters relating to any possible offer from TTB or other parties, the company said.
TTB said in a separate statement on Monday it had agreed to explore Weizer and Hall’s proposal to join its investor group.
(Reporting by Amna Karimi in Bengaluru; Editing by Jan Harvey)