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Jan. 21, 2022, 8:01 a.m. EST

Former F1 chief Eddie Jordan withdraws from bidding for gaming software company

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By Steve Goldstein

Gaming software company Playtech shares slumped 20% on Friday as a consortium led by former Formula One chief Eddie Jordan withdrew from bidding.

Jordan said in a statement that the JKO consortium withdrew and that it’s still looking for opportunities in the gaming sector. A group of Asian investors who recently bought Playtech were reported by the Financial Times to have scared off the Jordan-led consortium .

Aristocrat Leisure, /zigman2/quotes/202581837/delayed AU:ALL +0.09% an Australian slot machine maker, has agreed to buy Playtech for 680 pence a share, or £2.1 billion. Though Playtech is recommending the offer, the company said “a number of material investors have not to date engaged meaningfully about their views on the Aristrocrat offer.”

Playtech /zigman2/quotes/208133246/delayed UK:PTEC +1.08% shares dropped 20% to 586 pence.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.30% dropped 1.1% to 7504 in midday trade, as the defensive characteristics of the U.K. index were not enough to offset the pessimism in global markets.

Scottish Mortgage Investment Trust /zigman2/quotes/204858474/delayed UK:SMT -3.25% , an investor in several tech plays, slumped over 4%, as Pershing Square Holdings /zigman2/quotes/205672702/delayed UK:PSH +0.19% lost 3%. Mining groups including BHP /zigman2/quotes/206213719/delayed UK:BHP -0.29% and Fresnillo /zigman2/quotes/201300065/delayed UK:FRES +2.93% also slumped.

/zigman2/quotes/202581837/delayed
AU : Australia: Sydney
$ 31.65
+0.03 +0.09%
Volume: 1.79M
May 16, 2022 4:10p
P/E Ratio
24.72
Dividend Yield
1.30%
Market Cap
$21.12 billion
Rev. per Employee
$676,657
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/zigman2/quotes/208133246/delayed
UK : U.K.: London
516.00 p
+5.50 +1.08%
Volume: 137,872
May 16, 2022 2:05p
P/E Ratio
2.80
Dividend Yield
0.00%
Market Cap
£1.51 billion
Rev. per Employee
£161,869
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,440.49
+22.34 +0.30%
Volume: 367,553
May 16, 2022 2:06p
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/zigman2/quotes/204858474/delayed
UK : U.K.: London
779.60 p
-26.20 -3.25%
Volume: 1.63M
May 16, 2022 2:05p
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/zigman2/quotes/205672702/delayed
UK : U.K.: London
2,610.00 p
+5.00 +0.19%
Volume: 20,226
May 16, 2022 1:58p
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/zigman2/quotes/206213719/delayed
UK : U.K.: London
2,588.50 p
-7.50 -0.29%
Volume: 849,908
May 16, 2022 2:06p
P/E Ratio
10.69
Dividend Yield
10.48%
Market Cap
£131.22 billion
Rev. per Employee
N/A
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
744.60 p
+21.20 +2.93%
Volume: 335,320
May 16, 2022 2:04p
P/E Ratio
17.99
Dividend Yield
3.54%
Market Cap
£5.33 billion
Rev. per Employee
£97,801
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