MIXI has further sweetened its play for Australian bookmaker PointsBet, with $1.30 per share on offer to shareholders should the Japanese company secure 90 per cent of the takeover target.
Facing stern competition from betr, whose formal all-scrip offer opened earlier this week, MIXI has confirmed its ‘last and final’ offer which will see it pay $1.25 per share if it acquires less than 90 per cent, but a premium on that should it get beyond that mark.
That may prove an incentive for betr, which owns 19.6 per cent of PointsBet, to drop out of the race, and cash in on the premium, given it paid $1.06 a share for its piece of Pointsbet in April.
The revised offer is a direct response to the competing proposal from betr, which MIXI Australia said is ‘materially inferior’ as its offer is unconditional and all-cash.
MIXI, whose offer closes on August 29, currently holds acceptances for 37.12 per cent of PointsBet shares.
