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The bloc of Asia-based investors began buying up Playtech shares at a premium after Aristocrat submitted its formal offer. That’s until they collectively owned around 27 percent of the company, according to The Independent. <\/i><\/span>Aristocrat needed the backing of at least 75 percent of Playtech shareholders to push the deal through but only received around 55 percent. <\/span><\/p>\n<\/div>\nCroker concluded that the new investors had \u201cmaterially impacted the prospects for the success of our offer, which had been recommended by the board of Playtech.\u201d \u00a0<\/span><\/p>\nHe said events since the announcement of the offer had been \u201chighly unusual and largely beyond Aristocrat\u2019s control.<\/span>\u201d<\/p>\nJordan Spooked<\/span><\/b><\/h2>\nIt\u2019s unclear whether these investors are connected in any way to the anticipated TTB bid. But their presence was a factor in <\/span>Formula One team boss Eddie Jordan’s decision to walk away from the race for Playtech. <\/span><\/p>\nJordan had been expected to make a bid via his investment vehicle <\/span>JKO Play. But according to The Financial Times,<\/i> the Irishman was concerned that any offer would be blocked by the new shareholders.<\/span><\/strong><\/p>\nIn the wake of the collapsed Aristocrat deal, Playtech said Wednesday it would now explore splitting the business and would listen to separate offers for its <\/span>consumer and B2B operations.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Hong Kong investment and advisory firm TT Bond Partners (TTB) is making a play for British casino software giant Playtech, according to sources in the City, London\u2019s financial district, Sky News reports. This comes less than 24 hours after a US$2.84 billion takeover bid by Australia\u2019s Aristocrat Gaming was rejected by Playtech shareholders. TTB is […]<\/p>\n","protected":false},"author":36,"featured_media":200229,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,19],"tags":[],"acf":[],"yoast_head":"\n
TTB Moves for Playtech Amid Aristocrat Deal Collapse<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n