Stocks of the Hour: Aristocrat, HUB24 & Sydney Airport

Gambling giant Aristocrat (ASX:ALL) has made an offer to acquire UK gambling software company Playtech, valuing the enterprise at $5 billion. Aristocrat is offering Playtech share capital of $3.9 billion, which is 11.4 times Playtech’s earnings in FY21. Aristocrat plans to raise $1.3 billion via an entitlement offer as part of the funding. Shares in Aristocrat (ASX:ALL) last traded at $45.79.

Wealth platform HUB24 (ASX:HUB) is set to acquire 100 per cent of cloud-based wealth technology company Class (ASX:CL1) after entering a scheme implementation deed. Under the proposed acquisition, Class shareholders will receive one HUB24 share for every 11 Class shares held. Shares in HUB24 (ASX:HUB) are trading 0.9 per cent lower at $32.75.

The possible sale of Sydney Airport (ASX:SYD) to Sydney Aviation Alliance, a consortium of investment funds, is a step closer. The four-week due diligence period has now come to an end. The airline said it will continue to negotiate the transaction and seek internal approvals over the coming weeks. Shares in Sydney Airport (ASX:SYD) are trading 0.7 per cent lower at $8.31.

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