After Playtech’s shares slumped 20% on January 21st, a consortium led by former Formula One chief Eddie Jordan withdrew from the bidding. Jordan said in a statement that the JKO consortium withdrew and that it’s still looking for other opportunities within the gaming sector.
A group of Asian investors who recently bought Playtech were reported by The Financial Times to have scared off the Jordan-led consortium.
Instead, Australian slot machine maker Aristocratic Leisure agreed to purchase Playtech for $9.18, or $2.84 billion. Though Playtech is recommending the offer, the company said, “a number of material investors have not to date engaged meaningfully about their views on the Aristocrat offer.”
(All information was provided by MarketWatch)