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Shares of Playtech plunged Friday after The Eddie Jordan Family office and Keith O'Loughlin announce that JKO didn't intend to make an offer for company.
Following the announcement, Playtech advised shareholders vote in favour of the offer from Aristocrat Leisure at the court meeting and in favour of the Playtech Resolutions to be proposed at the general meeting, scheduled for 2 February 2022.
'The board continues to seek engagement with all of its shareholders regarding the Aristocrat Offer. However, a number of material investors have not to date engaged meaningfully about their views on∑ the Aristocrat offer, including certain investors that have disclosed or taken material positions in the Company following the announcement of the Aristocrat Offer,' the company said.
'The absence of customary levels of engagement means that the board is approaching the Court and General Meetings without a clear understanding of whether these shareholders are supportive of the Aristocrat offer,' it added.