Analysis & Comment

Barinboim-led group urges Playtech investors to back its deal for Finalto

(Reuters) – A consortium led by Israeli private equity group Barinboim urged Playtech shareholders on Wednesday to vote for its deal to buy the British software maker’s financial trading division Finalto, responding to a rival bid from one of Playtech’s investors.

The consortium, which in May agreed to buy the unit for up to $210 million, added that Playtech will need to pay them $8.8 million in case shareholders do not approve the deal, and if a sale were to be agreed with a third party within a year of the termination.

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