Mixi offers ‘best and final’ price for PointsBet acquisition
The price per share has been increased to AU$1.25.
Key points:
– Mixi has updated its offer to acquire a majority stake in PointsBet, offering AU$1.25 per share
– The offer has been unanimously recommended by PointsBet Directors
– It is Mixi’s ‘best and final’ offer
The PointsBet acquisition saga continues, with Mixi offering its ‘best and final’ share price to acquire the operator.
Mixi is willing to pay AU$1.25 (US$0.82) per share to purchase the business, with the takeover offer marked as ‘unconditional.’
PointsBet Directors have unanimously recommended the offer, with all Directors accepting the offer.
Moreover, Mixi Australia added that it reserves the right to increase the offer if it is able to acquire more than 50% of the shares, with all shareholders who accepted the initial deal to receive an increase to their price.
Currently, Mixi Australia holds 28.2% of PointsBet shares.
Good to know: This marks the 33rd explicit update to the PointsBet investor relations page since April
The move comes as part of a continuing battle between Mixi and Betr to acquire PointsBet.
Recently, Betr increased its offer to AU$1.35 per share as part of its all-scrip offer. Despite this, PointsBet rejected the offer, with Mixi gaining Commonwealth approval for its offer earlier this week.
However, Betr still remains confident in its offer. Indeed, Betr was the first to express interest in acquiring the brand, posting its initial proposal to acquire 100% of PointsBet for an equity value of AU$360m.
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