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NewsFebruary 20, 2022·1 min read
Playtech Rejects Aristocrat's $3.7 Billion Takeover Bid
Playtech has declined Aristocrat Leisure's $3.7 billion takeover offer due to insufficient shareholder approval. The shareholders needed to ratify the pact to 75 percent threshold to continue. 43.87 percent of the company voting against it.
The board of Playtech indicated on Wednesday that it would consider breaking up the firm to maximize shareholder value. The corporation will sell its B2C and B2B businesses after obtaining clearance from the investors and regulators.
Trevor Croker, managing director and CEO of Aristocrat Leisure, spoke about the company's apparent inability to acquire Playtech. The gaming firm located in Australia will now consider potential merger and acquisition options, notably in the real money online gaming market.
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