Mixi revises offer for PointsBet acquisition
Update on proposed scheme arrangement and timeline.
Key points:
– Mixi has raised its proposed purchase price for PointsBet to improve the likelihood of shareholder approval
– The acquisition is progressing under a Scheme of Arrangement, subject to regulatory and court approvals
Mixi has provided an update on its planned acquisition of PointsBet. Mixi’s Board of Directors resolved on 2 June 2025 to increase the purchase price for PointsBet’s ordinary shares to make it more likely the transaction will be completed. The revised offer price is AU$398m (US$264m).
The acquisition will be carried out through a Scheme of Arrangement (SOA) under the Australian Corporations Act. Disclosure of the price adjustment was made in line with PointsBet’s announcement to the Australian Securities Exchange.
Subject to court and shareholder approvals, the indicative timeline includes a Scheme Meeting on 25 June 2025 and SOA implementation on 8 July 2025. All dates remain provisional and may change depending on discussions with relevant parties, court scheduling and regulatory reviews.
Good to know: Mixi will announce any financial or operational impacts of the acquisition once confirmed, with shareholders and interested parties advised to follow further updates as they become available
Completion of the SOA depends on approval by a majority of PointsBet’s shareholders representing at least 75% of votes cast, court approval and clearance from the Australian Foreign Investment Review Board.
The acquisition may not proceed if these conditions are not satisfied. Mixi has indicated that it may consider an off-market takeover bid if the SOA is not approved.
In February 2025, PointsBet was subject to a proposed $223.2m takeover by Mixi. The offer followed a period of heightened interest, with the company receiving multiple acquisition bids in the days leading up to the announcement.
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