Australia: Mixi issues final supplementary statement on PointsBet takeover
Subsidiary status confirmed as offer deadline approaches.
Key points:
– Mixi Australia now holds more than 51% of PointsBet shares, establishing control of the company
– The $1.25 per share offer will close on 12 September 2025 and will not be extended or increased
Mixi Australia has issued its Fourth Supplementary Bidder’s Statement concerning its off-market takeover of PointsBet.
The company confirmed that its cash offer of $1.25 per share represents the final price. The offer will close at 7:00pm (Melbourne time) on 12 September 2025 and will not be extended or increased.
As of 5 September 2025Mixi Australia held a relevant interest in approximately 51.86% of PointsBet shares.
This establishes PointsBet as a subsidiary of Mixi Australia. The announcement also noted that competitor betr will not be able to obtain control of PointsBet.
After the offer closes Mixi Australia’s ability to acquire additional shares will be limited by restrictions under the Corporations Act 2001, including a prohibition on using the “3% creep rule” for at least six months.
In August, Mixi Australia revised its takeover bid, both increasing and extending its offer to acquire PointsBet.
Good to know Shareholders may accept the offer by submitting the Acceptance Form, completing the process online through the Automic portal or instructing their broker
Shortly after, the company rejected betr’s revised proposal but raised its shareholding to 42.56%.
By the end of the month Mixi had crossed the 50% threshold, giving it control of PointsBet and setting the final offer deadline of 12 September.
The recent statement noted that if the offer lapses without a superior proposal the trading price of PointsBet shares may fall.
Mixi Australia confirmed that it will take board representation proportionate to its shareholding. It stated that it would vote against the appointment of directors affiliated with betr.
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