Playtech acquisition of Plus500 may be terminated if not consummated by end of 2015
Playtech has issued an announcement to inform regarding the acquisition of Plus500.
Read previous announcement: Playtech’s latest announcement regarding Plus500 acquisition
Read previous announcement: Playtech plc: Update on acquisitions of Plus500 Ltd and Ava Trade Ltd
According to the firm, the Plus500 Board have been informed by Playtech plc (“Playtech”) that it expects a decision on its application to the Financial Conduct Authority (FCA) in connection with the acquisition of Plus500 in December 2015. The terms of the Merger Agreement are such that it may be terminated if the acquisition is not consummated by 31 December 2015.
Playtech has informed Plus500 that the FCA’s regulatory assessment is a confidential process between the FCA and Playtech. Playtech will only announce further details on conclusion of the process.
Since the acquisition was announced earlier in the year Plus500 has been managed on an independent, business as usual, basis and will continue as such.
The Company confirms that if the Merger is completed cancellation of admission of Plus500 Shares to trading on AIM is expected to incur a corresponding delay. The Company will update the market in due course.
Source: Playtech – Update on the recommended cash acquisition of Plus500 by Playtech PLC
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