As prophesised in this column earlier in the week, the Playtech shareholder vote on the proposed acquisition by Aristocrat fell short.
Aristocrat, in a statement issued overnight, said that its cash offer of 680p per share for Playtech failed to reach the 75 per cent threshold necessary to facilitate the purchase of the company and the offer has therefore lapsed.
A simultaneous release from Playtech revealed that the total votes in favour of the takeover reached 56.13 per cent.
However, the Playtech board yestrday confirmed that on the afternoon of February 2 it was contacted by TTB Partners on behalf of an investor group to be formed and advised by it, requesting that Playtech consent to release TTB from its restrictions under Rule 2.8 of the Code.
This release was requested to allow a possible offer for the company to be considered. The board confirms that it has given the requested consent to TTB.
There can be no certainty as to whether this will result in an offer for the company, nor as to the terms on which any offer might be made. However, any offer, if made, is likely to be in cash.
