The protracted pursuit of Playtech may have taken a new turn with the announcement that Mor Weizer, the organization’s Director and Chief Executive Officer, expressed a desire “to explore participation” in the investor group created by Hong Kong-based investment firm TTB Partners. 

Playtech – TTB Partners Negotiations 

Following media speculation, the company has acknowledged that Weizer and former Playtech executive Thomas Hall have approached TTB regarding their interest in joining the investor group. Following Aristocrat’s ultimately unsuccessful £2.7 billion pursuits, Playtech stated earlier this month that it “was contacted by TTB Partners Limited on behalf of an investor group to be formed and advised by it” to be exempt from City Code rule 2.8 on Mergers and Acquisitions.

On November 19, 2021, Gopher Investments, a TTB affiliate, announced that it had no intention of making an offer for Playtech, and as a result, the group was bound by the six-month restrictions, which were scheduled to expire on May 20, 2022. TTB has indicated to the board that it anticipates any offer, if made, will be greater than Aristocrat Leisure’s suggested cash acquisition price of 680p per share published on October 17, 2021. Following that, Playtech’s board of directors will establish an independent committee comprised of directors, excluding Weizer, to review all matters relevant to any potential TTB offer and any other similar M&A bids it receives.

The independent committee is and will continue to be particularly conscientious about their commitments to Playtech stakeholders and the code’s standards. Additionally, this is not an announcement of a firm offer as defined in Code Rule 2.7. There can be no assurances that Mr. Weizer or Mr. Hall will join the TTB investor group, that a bid for the company would be disclosed, or that an offer will be made on favorable terms. 

Playtech acquisition saga

Prior acquisition overtures were also made by Gopher Investments, a 4.97 percent shareholder that agreed to acquire Playtech’s Final to the financial services sector, fulfilling one of the primary conditions of Aristocrat’s proposed takeover of the company.

However, in November, Gopher withdrew from the competition, one day after JKO Play, a 0.51 percent shareholder in Playtech, entered the fray before exiting last month. Earlier this month, it was announced that Aristocrat’s offer had been rejected after the total number of votes cast in favor of the resolution at a general meeting was 54.68 percent, well below the required minimum of 75 percent. Playtech plc is a software development business specializing in gaming software that was created in 1999. Online casinos, online poker rooms, bingo games, sports betting, scratch games, mobile gambling, live dealer games, and fixed-odds arcade games are powered by the company’s software.