in Takeover Talks in Takeover Talks

Thursday, 13 November 2014

Following mounting speculation that is in talks to sell at least part of their platform, the company was forced to issue a statement addressing the situation to the London Stock Exchange on Wednesday.

Despite refusing to name the company it's in talks with, did state the following:

"Further to recent media speculation regarding a possible bid for, the Board of confirms that it has entered into preliminary discussions with a number of interested parties regarding a variety of potential business combinations with a view to creating additional value for shareholders.

Such discussions may or may not result in an offer being made for the Company. However, as all such discussions remain at a preliminary stage, there can be no certainty as to whether or not they will result in any form of transaction with any party."

Following the announcement a number of commentators began to speculate on who the potential suitor maybe be. According to an article by the Financial Times' Paul Murphy, "the bidder here is Amaya Gaming Group."

In contrast to this speculation, the London Evening Standard hinted that Playtech could be the company sizing up following its announcement that it was raising a €315 million "war chest" to help aid the acquisition of new "organic opportunities."

As yet has declined to comment on the issue, but after the news broke the company's share price did benefit from a 12.52% boost to 121.3p per share.

Tags:, business