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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 -1.42% 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 +0.19% shares dropped 20% to 586 pence.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.72% 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 +0.46% , an investor in several tech plays, slumped over 4%, as Pershing Square Holdings /zigman2/quotes/205672702/delayed UK:PSH -0.58% lost 3%. Mining groups including BHP /zigman2/quotes/206213719/delayed UK:BHP +1.96% and Fresnillo /zigman2/quotes/201300065/delayed UK:FRES +2.85% also slumped.

/zigman2/quotes/202581837/delayed
AU : Australia: Sydney
$ 31.20
-0.45 -1.42%
Volume: 1.84M
May 17, 2022 4:10p
P/E Ratio
24.37
Dividend Yield
1.31%
Market Cap
$21.14 billion
Rev. per Employee
$676,657
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/zigman2/quotes/208133246/delayed
UK : U.K.: London
531.00 p
+1.00 +0.19%
Volume: 454,584
May 17, 2022 4:35p
P/E Ratio
2.88
Dividend Yield
0.00%
Market Cap
£1.56 billion
Rev. per Employee
£161,869
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,518.35
+53.55 +0.72%
Volume: 695,741
May 17, 2022 4:59p
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/zigman2/quotes/204858474/delayed
UK : U.K.: London
782.40 p
+3.60 +0.46%
Volume: 3.68M
May 17, 2022 4:35p
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/zigman2/quotes/205672702/delayed
UK : U.K.: London
2,580.00 p
-15.00 -0.58%
Volume: 65,943
May 17, 2022 4:35p
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/zigman2/quotes/206213719/delayed
UK : U.K.: London
2,627.50 p
+50.50 +1.96%
Volume: 1.88M
May 17, 2022 4:35p
P/E Ratio
10.85
Dividend Yield
10.33%
Market Cap
£129.80 billion
Rev. per Employee
N/A
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
778.40 p
+21.60 +2.85%
Volume: 896,158
May 17, 2022 4:35p
P/E Ratio
18.81
Dividend Yield
3.38%
Market Cap
£5.58 billion
Rev. per Employee
£97,801
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