Plus500 Shareholders to Vote on Playtech Acquisition Mid-July
- All of the directors on Plus500's board support the offer proposed by Playtech to acquire the firm for £4 per share
According to a regulatory filing by Plus500, the company's shareholders will be voting on the acqusition offer made by Playtech in the middle of July. While the share prices of the broker are still trading below the offer made by Playtech, speculation about a prospective bidding war has been increasing.
Last week, one of the top shareholders in the firm, Odey Asset Management stated that the offer did not correspond to the value it found in Plus500. With the rumors about a Financial Conduct Authority investigation into the firm's on-boarding practices circulating across the market, no other offers have been made.
The business profile of Plus500 does not appeal to traditional companies operating in the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term space such as GAIN Capital and OANDA, that have publicly voiced their intentions to look for 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 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 Read this Term targets in the aftermath of the Swiss National Bank (SNB) distaster which hit the online trading industry.
For the time being no other offers have been put on the table.
A Special General Meeting will be held on the 16th of July, 2015 at the Regus Offices, Level 9, CityPoint, 1 Ropemaker Street, London EC2Y 9HT. The cash acquisition offer made by Playtech plc is supported by all of the directors on the board of Plus500.
The Chairman of the Board, Alastair Gordon, commented in the announcement, "The Plus500 board believes that the merger proposal is fair to and in the best interests of Plus500 and its shareholders as a whole and recommends that shareholders vote "for" the merger proposal."
According to a regulatory filing by Plus500, the company's shareholders will be voting on the acqusition offer made by Playtech in the middle of July. While the share prices of the broker are still trading below the offer made by Playtech, speculation about a prospective bidding war has been increasing.
Last week, one of the top shareholders in the firm, Odey Asset Management stated that the offer did not correspond to the value it found in Plus500. With the rumors about a Financial Conduct Authority investigation into the firm's on-boarding practices circulating across the market, no other offers have been made.
The business profile of Plus500 does not appeal to traditional companies operating in the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term space such as GAIN Capital and OANDA, that have publicly voiced their intentions to look for 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 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 Read this Term targets in the aftermath of the Swiss National Bank (SNB) distaster which hit the online trading industry.
For the time being no other offers have been put on the table.
A Special General Meeting will be held on the 16th of July, 2015 at the Regus Offices, Level 9, CityPoint, 1 Ropemaker Street, London EC2Y 9HT. The cash acquisition offer made by Playtech plc is supported by all of the directors on the board of Plus500.
The Chairman of the Board, Alastair Gordon, commented in the announcement, "The Plus500 board believes that the merger proposal is fair to and in the best interests of Plus500 and its shareholders as a whole and recommends that shareholders vote "for" the merger proposal."