Playtech (LON: PTEC) announced on Friday that the deadline to receive confirmation from TTB Partner on the acquisition offer had been extended to July 15, 2022.

Previously, the deadline for receiving confirmation of interest for the Playtech  acquisition  Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company's shares to gain control of that company. Buying more than 50% of a target firm's stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company's shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services. Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company's shares to gain control of that company. Buying more than 50% of a target firm's stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company's shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services. Read this Term by TTB was due by June 17. However, it was extended with the approval of the Panel on Takeovers and Mergers.

“Discussions between the Company and TTB are ongoing, and progress continues to be made,” the latest announcement by Playtech stated.

“At present, the Independent Committee believes allowing additional time for discussions to further develop is in the best interests of the Company's shareholders and other stakeholders. Accordingly, the Independent Committee requested that the Panel on Takeovers and Mergers (the 'Panel') extend the deadline by which TTB must clarify its intentions. The Panel has granted this extension.”

Now, TTB Partners is needed to confirm its intentions by 5pm on July 15, but the deadline can be further extended if deemed necessary by the Panel.

How Will It End?

TTB Partners approached Playtech with its acquisition intention in early February, after Playtech shareholders rejected a $3.7 billion all-cash offer made by the Aussie gambling equipment maker, Aristocrat Leisure. It is representing a group of investors, and Playtech’s CEO, Mor Weizer, and the former Director, Thomas Hall, who also approached them, expressing their interest to become participants.

Despite Playtech and TTB being in discussions for months now, the latter is yet to clarify its intention about the acquisition and come up with an offer.

Meanwhile, Playtech recently confirmed that it had received all necessary regulatory approvals for the sale of its financial division, Finalto, to Gopher Investments, which is a TTB subsidiary.

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