Plus500 shareholders vote for Playtech offer

Playtech plc has issued a statement regarding the progress of its attempt to acquire CFD financial spreadbetting firm Plus500 (see previous reports), advising that at a general meeting of Plus500 shareholders Thursday there was strong support for its purchase offer of 400p per share.

The vote enables the deal to progress, and Playtech says it looks forward to integrating Plus500 into its growing Financials division, which was established with the acquisition of TradeFX.

Playtech CEO Mor Weizer said after the meeting:

“We are delighted to have secured the support of Plus500’s shareholders. The combination of TradeFX and Plus500 will enable us to apply our market-leading products and services to the enlarged financial trading business as we continue to execute our growth strategy for the Group.”

Playtech expects to issue a circular to its shareholders later this month convening a general meeting to seek approval for the acquisition of Plus500. A separate meeting will be held July 28 to consider the company’s acquisition of Ava Trade Ltd.

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