Barinboim Group not giving up on Finalto purchase
The Barinboim group believes that Gopher Investments’ interest in Finalto will be unveiled as “not genuine”.
The Barinboim group believes that Gopher Investments’ interest in Finalto will be unveiled as “not genuine”.
The restrictions on Playtech from engaging with the other bidder for Finalto – Gopher Investments – are no longer in place.
Playtech continues to recommend the lower Barinboim offer, as the Gopher bid is “uncertain in terms of its deliverability”.
Playtech may have received interest in Finalto from other potential acquiring parties since the date of the adjournment.
Playtech has not received answers from Gopher Investments regarding its ultimate shareholding, and source of funds.
Playtech will be releasing a new circular, which will include an update to shareholders on the Finalto sale process.
Playtech’s delay of its shareholder vote came about after a late competing bid emerged for Finalto from Gopher Investments.
Playtech wants to “further consider recent developments” including the competing $250 million offer for Finalto by TT Bond Partners.
TT Bond Partners is urging the Playtech Board to cancel the planned shareholder vote next week and to engage more closely with it.
Gopher Investments has made a $250M competing offer to buy the Financials division of Playtech, consisting o Finalto and Markets.com.