Odey Asset Management, the largest individual shareholder in Plus500, has announced that it does not intend to vote in favour of Playtech’s proposed acquisition of the London-listed spread betting and CFD provider.
Odey, which owns a 25.49 stake in the business, said late last week that Playtech’s 400 pence per share cash offer was an “opportunistic bid exploiting current regulatory issues and risks.”
“In our view 400p materially undervalues Plus500 and we do not intend to vote [...]
