The big Australian software provider, Aristocrat, is about to buy the British provider Playtech for A$5 billion ($3.7 billion); as it was announced through its subsidiary Aristocrat (UK) Holdings Ltd. Aristocrat’s offer is estimated at 680 pence ($9.35) per share, a premium percentage of about 58% to Playtech’s last closing price on October 15.
According to this offer, Playtech’s shareholders of the FTSE 250 will get 680 pence ($9.35) in cash for each share owned. A 58% instalment to Playtech’s closing price of 429.20 pence on October 15 is the offer’s price.
As the Chairman of Playtech, Brian Mattingley, stated: “In recent years, Playtech has successfully repositioned its world leading gambling technology and operations, expanding in strategically important regulated markets and driving major online B2B revenue growth. Whilst the business has made significant progress, most notably in the Americas, Aristocrat’s proposal provides an attractive opportunity for shareholders to accelerate Playtech’s longer-term value.”
Trevor Croker, Aristocrat’s Chief Executive, said: “The combined group would offer a broad portfolio of end-to-end solutions for gaming customers around the world, as well as seamless player experiences, underpinned by a shared focus on responsible gameplay and innovation.”