Gopher Investment votes against acquisition Finalo, or to specify even better, the Playtech shareholder votes against Finalto acquisition. This is the intention of the Playtech minority shareholder who also invited all the other shareholders to follow this line regarding the proposal made by Barinboim Group to buy Finaltonull But let's retrace one step at a time and try to understand exactly what we are talking about.
Playtech shareholder votes against Finalto acquisition: what is going on?
Before explaining why Playtech shareholder votes against Finalto acquisition, everything must be said that at the center of the discussion currently underway between Gopher and the other shareholders of Playtech, there is Finalto, or the financial division of the groupnull In practice, Barinboim Group, supported by Leumi Partners and Menora Insurance Mivtachim, would have advanced an offer of about 210 million in order to acquire Finaltonull At this point Gopher intervened, who has just under 5% of Playtech shares. Gopher Investment votes against Finalto acquisition also because he would be interested in the acquisition himself.
As mentioned, Barinboim would have proposed about 210 million dollarsnull Gopher Investment, who voted against Finalto acquisition, would have raised the mail up to 250 million dollarsnull Such countercapper would arrive on June 29th. To create some perplexities, however, there would be the response of the Board of Directors of the software provider who, within a letter, would have claimed to have "a limited flexibility to interact with Gopher based on the terms of the sales and purchase contract that stipulated with the Consortium”.
"It does not respect the growth prospects"
Gopher Investment votes against Finalto acquisition, and then he would have asked the other shareholders not to accept the proposal, also because he would not reflect the real prospects for fake growthnull From this point of view, then, there is also to consider the methods of payment.
Borinboim's offer, in fact, provides for an initial payment of 185 million dollars, of which 15 million deferred up to two yearsnull Another $ 25 million, then, would be paid after the occurrence of some conditions.
For his song, then, Gopher Investment who voted against Finalto acquisition, has also made it clear that his offers would be considerably higher. And, precisely, it would be 47%higher, on the "basic proposal" presented by the Consortium led by Barinboim. Also, as Gopher says, "It would allow Playtech to receive the proceeds with certainty and in full to complete, ensuring the net cut that the Council has declared as the objective of the transaction". Gopher, in fact, would finance its offer with "immediately available" funds.