1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 Reuters (Reuters) – Gopher Investments, Playtech’s second-largest stakeholder, said on Friday that if the firm accepts its $250 million offer for Playtech’s financial trading unit, it will pay the company a $10 million breakup fee. If Playtech’s investors vote against a deal for up to $210 million for the Finalto trading unit that the two sides agreed to in May, Playtech will have to pay a $8.8 million penalty to a consortium led by Israeli private equity firm Barinboim. The London-listed company also announced that its shareholder meeting on July 15 will be postponed by two weeks to provide the board and investors time to review recent developments before deciding on a vote. “Both Playtech and the consortium are bound by the constraints stipulated… which include not engaging in any third-party talks… the postponing of the general meeting does not modify these restrictions,” Playtech stated. Pushkala Aripaka in Bengaluru contributed reporting, and Shounak Dasgupta edited the piece./n
Read More
