PLAYTECH SHAREHOLDERS APPROVE PLUS500 ACQUISITION (Update)
Agreement expected to be completed no later than September 30 this year.
Playtech shareholders approved the acquisition of CFD firm Plus500 (see previous InfoPowa reports) at an extraordinary general meeting this morning (August 19).
Completion of the acquisition remains subject to certain conditions, including regulatory approvals, but is expected to complete no later than 30 September 2015.
The deal clinched earlier this year values the company at GBP 459.6 million or GBP 4 per share, almost half the GBP 862 million Plus500 was valued at before the UK's financial watchdog ordered it to overhaul its anti-money laundering procedures, when news of the regulatory scrutiny sent the company's share price tumbling.