{"id":1021,"date":"2022-01-26T00:25:37","date_gmt":"2022-01-25T13:25:37","guid":{"rendered":"https:\/\/uberpokies.org\/?p=1021"},"modified":"2022-01-26T18:05:12","modified_gmt":"2022-01-26T07:05:12","slug":"aristocrats-offer-stands-alone-as-jko-withdraws-from-playtech-bidding-war","status":"publish","type":"post","link":"https:\/\/uberpokies.org\/aristocrats-offer-stands-alone-as-jko-withdraws-from-playtech-bidding-war\/","title":{"rendered":"Aristocrat\u2019s offer stands alone as JKO withdraws from Playtech bidding war"},"content":{"rendered":"<p>Aristocrat has revealed that its regulatory approvals process is making headway with the Australian gaming manufacturer\u2019s offer remaining as the only one on the table for the acquisition of Playtech, following the withdrawal of rival bidder, JKO Play.<\/p>\n<p>With the JKO Play consortium backing away from negotiations, Aristocrat is taking the opportunity to revise its current offer to its previous, lower bid.<\/p>\n<p>In an official release, the operator restated its recommended cash acquisition offer to Playtech\u2019s shareholders, stating that JKO\u2019s withdrawal leaves it as the last remaining bidder and that its offer affords <em>\u201cfull and fair value\u201d <\/em>with <em>\u201cattractive cash certainty\u201d<\/em>.<\/p>\n<p><em>\u201cThe Playtech board recommended acquisition remains the only firm offer available to Playtech shareholders, despite the substantial amount of time provided to potential bidders to make alternative proposals.\u201d<\/em><\/p>\n<p><em>\u00a0\u201cAristocrat further confirms that the regulatory approvals process remains well on track, and it is committed to completing the acquisition as quickly as possible. Aristocrat reiterates that the terms of the recommended acquisition provide full and fair value for <a
href=\"https:\/\/uberpokies.org\/playtechs-new-game-suite-celebrates-sports-legends\/\">Playtech<\/a> shareholders, with attractive cash certainty.\u201d <\/em>The company continued.<\/p>\n<p><strong>A Long Road<\/strong><\/p>\n<p>The respective boards of <a
href=\"https:\/\/uberpokies.org\/australias-aristocrat-leisure-goes-big-with-3-7b-playtech-acquisition\/\">Playtech and Aristocrat jointly announced a recommended cash acquisition<\/a> of the former in October 2021, at $9.22 per share. JKO Play threw its hat in the ring in November of the same year, leading to speculation of a standoff between the two contenders. At the time, Aristocrat made a firm statement of its intent, saying,<\/p>\n<p><em>\u201cOur long term engagement with regulators across key gaming jurisdictions together with strong financial fundamentals, deep customer relationships and established presence in global gaming markets positions us to complete the transaction as planned in the second quarter of the calendar year 2022.\u201d<\/em><\/p>\n<p>As it turned out, a bidding war never emerged with JKO\u2019s somewhat baffling decision to concede, as the company\u2019s CEO had reportedly already sourced adequate funding for his offer from PartyGaming director and co-founder, Vikrant Bhargava.<\/p>\n<p>Aristocrat closed off by appealing to the shareholders who are still cagey regarding their positions on the proposed acquisition, advising them to vote in favour of its offer.<\/p>\n<p><em>\u201cAristocrat also notes comments in Playtech\u2019s announcement regarding a number of material investors who have not to date engaged meaningfully about their views on the recommended acquisition. Aristocrat urges all Playtech shareholders to vote in favour of the recommended acquisition at the relevant shareholder meetings to be convened on February 2,\u201d <\/em>the statement concluded.\u200b<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aristocrat has revealed that its regulatory approvals process is making headway with the Australian gaming manufacturer\u2019s offer remaining as the only one on the table for the acquisition of Playtech, following the withdrawal of rival bidder, JKO Play. With the JKO Play consortium backing away from negotiations, Aristocrat is taking the opportunity to revise its [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"content-sidebar","footnotes":""},"categories":[2,51],"tags":[],"class_list":{"0":"post-1021","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-aristocrat-gambling","7":"category-australian-gambling","8":"entry"},"yoast_head":"\n<title>Aristocrat\u2019s offer stands alone as JKO withdraws from Playtech bidding war - UberPokies.org<\/title>\n<meta
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