A third potential bidder has entered the takeover battle for gaming software company Playtech PLC (AIM:PTEC), with a consortium backed by former Formula 1 team owner Eddie Jordan announcing its interest.
Playtech said it received a preliminary approach from JKO Play, led by Jordan and Keith O’Loughlin, on 5 November.
Playtech recommended a 680p pence share offer from Australian gambling tech firm Aristocrat on 17 October.
It then announced on 8 November that it had been approached by Gopher Investments about a potential rival bid.
In a statement issued today, Playtech said JKO's approach indicated that it was in discussions with Centerbridge Partners about funding, although no financing commitment has been provided by Centerbridge. Other sources of debt finance are also being considered by JKO, it added.
Playtech said talks with JKO and Gopher are ongoing and there is no certainty any of the approaches will result in a takeover offer.
In a separate statement, Aristocrat said it believes its recommended bid for Playtech “provides certainty for Playtech shareholders with no contingent value or other complicated structures for shareholders to realise value”.
Aristocrat said it continues to work with Playtech on implementing the acquisition and that the regulatory approval process is on track.
Playtech shares rose 2.77% to 761.50p in early trade.