Plus500 Shareholders to Vote on Playtech Acquisition Mid-July

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 space such as GAIN Capital and OANDA, that have publicly voiced their intentions to look for Acquisition 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."