PointsBet administrators have unanimously beneficial that firm shareholders settle for the ‘greatest and ultimate’ MIXI Australia takeover supply, whereas rival bidder Betr Leisure has launched a contemporary regulatory problem.
MIXI confirmed it’s keen to shell out AU$1.25 (US$0.82) per share to amass PointsBet.
The ‘unconditional’ supply was made after approval was granted by the Overseas Funding Evaluate Board (FIRB) of Australia to shut in on the deal.
Though ‘greatest and ultimate’ has been used by way of the proposal, MIXI has acknowledged it retains the best to extend the supply additional if it will probably get hold of greater than 50% of the general shareholding.
This might develop into attainable as all shareholders who authorized the preliminary deal to obtain an uplift to their worth.
Because it stands, Mixi is a big minority shareholder with management of 28.2% of PointsBet.
An official communication supplied all the most recent particulars on the MIXI takeover supply.
MIXI PointsBet takeover faces new regulatory problem from betr
https://t.co/Ctv56VngL4#betr $PBH #MIXI
— NEXT.io (@nextdotio) August 11, 2025
Betr alleges MIXI used timing benefit to engineer uneven enjoying discipline
The proposed takeover of the Australian betting platform has been an ongoing saga, with the most recent 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 Leisure, however the latter nonetheless holds hope that it will probably get a deal over the road.
Betr had elevated its supply 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 supply might be thought of.
Betr is claiming that an uneven enjoying discipline has been engineered, placing PointsBet shareholders at a drawback.
Within the utility to the Takeovers Panel, Betr has offered the case that: “MIXI is looking for to use the procedural penalties of ongoing Takeovers Panel proceedings (being a delay within the despatch of Betr’s alternative bidder’s assertion and the opening of the Betr Provide) to boost and doubtlessly safe its management of PointsBet earlier than the Betr Provide is distributed to PointsBet shareholders and open for acceptances.”
Betr needs interim orders to be granted to forestall MIXI from processing acceptances beneath the most recent supply till the Panel reaches its findings on the problems round its personal proposal for PointsBet.
Picture credit score: PB
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