Mixi submits latest ‘final’ offer for PointsBet
"That's right folks, it's gonna be a Mixi episode." The company has both upped and extended its previous offer to acquire PointsBet.
Key points:
– Mixi has submitted its final offer in the ongoing PointsBet acquisition bidding war
– The company has raised its proposed takeover bid to AU$1.30 per share
– This latest offer is set to expire on 29 August at 7pm Melbourne time
As the saga continues, Mixi has once again submitted a final offer for PointsBet as it looks to acquire a minimum of 90% of the operator’s shares.
Indeed, Mixi has increased its latest offer for the organisation to AU$1.30 (US$0.84) cash per PointsBet share from its former $1.25 per share submission. In addition to this bump in financial compensation for the acquisition, Mixi has also further extended the deadline of this offer until the 29 August 2025, at 7pm Melbourne time. Indeed, according to Mixi, should PointsBet not accept the offer by this time, the company will then officially close this latest offer.
Mixi has already received numerous regulatory approvals for the proposed PointsBet takeover in jurisdictions including Ontario and Australia – with an official notice to the Australian Securities and Investments Commission (ASIC) having been included as part of this revised submission. Also underlined as part of this release is the clarification that there shall be no further extension from Mixi past the 29 August for an acquisition offer of any kind pertaining to PointsBet.
Good to know: This week, the PointsBet Board reiterated its desire for shareholders to approve the Mixi takeover bid
Nevertheless, this latest revision comes a matter of weeks after Mixi submitted an additional ‘best and final’ offer to take over the Australian operator – which has now been built upon through this latest action.
This recommendation from PointsBet towards its shareholders comes following an unsolicited Scrip Offer from Betr – as the company remains confident in its ability to out-bid Mixi. However, it would appear that PointsBet still favours Mixi’s advances.
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