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PointsBet administrators have unanimously really useful that firm shareholders settle for the ‘best and final’ MIXI Australia takeover provide, whereas rival bidder Betr Entertainment has launched a recent regulatory problem.
MIXI confirmed it’s prepared to shell out AU$1.25 (US$0.82) per share to amass PointsBet.
The ‘unconditional’ provide was made after approval was granted by the Foreign Investment Review Board (FIRB) of Australia to shut in on the deal.
Although ‘best and final’ has been used when it comes to the proposal, MIXI has said it retains the fitting to extend the provide additional if it will possibly receive greater than 50% of the general shareholding.
This might develop into attainable as all shareholders who permitted the preliminary deal to obtain an uplift to their value.
As it stands, Mixi is a big minority shareholder with management of 28.2% of PointsBet.
An official communication offered all the newest particulars on the MIXI takeover provide.
MIXI PointsBet takeover faces new regulatory problem from betr
— NEXT.io (@nextdotio) August 11, 2025
MIXI PointsBet takeover faces new regulatory problem from betr
Betr alleges MIXI used timing benefit to engineer uneven taking part in area
The proposed takeover of the Australian betting platform has been an ongoing saga, with the newest replace representing the thirty third replace to PointsBet’s investor relations web page over the past 4 months.
MIXI seems to have lastly secured the higher hand on rival bidder, Betr Entertainment, however the latter nonetheless holds hope that it will possibly get a deal over the road.
Betr had elevated its provide to AU$1.35 per share, on all all-scrip foundation, however this was rejected by the PointsBet board.
Now, Betr has taken its case to the Takeovers Panel, alleging MIXI was utilizing a timing benefit to safe the acquisition earlier than its provide could possibly be thought of.
Betr is claiming that an uneven taking part in area has been engineered, placing PointsBet shareholders at an obstacle.
In the applying to the Takeovers Panel, Betr has introduced the case that: “MIXI is seeking to exploit the procedural consequences of ongoing Takeovers Panel proceedings (being a delay in the despatch of Betr’s replacement bidder’s statement and the opening of the Betr Offer) to enhance and potentially secure its control of PointsBet before the Betr Offer is sent to PointsBet shareholders and open for acceptances.”
Betr needs interim orders to be granted to stop MIXI from processing acceptances beneath the newest provide till the Panel reaches its findings on the problems round its personal proposal for PointsBet.
Image credit score: PB
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