Japanese company MIXI has lodged its bidder statement for its intended takeover of corporate bookmaker PointsBet, a bid which still enjoys the unanimous support of the PointsBet board.
Betr confirmed its all-scrip off-market offer on Wednesday as part of its detailed bidder statement, citing it as superior to the $1.20 per share, or $400 million, on the table from MIXI.
However, in a release to the ASX on Thursday, PointsBet said it saw the implied value of betr’s current offer at around $1.03 based on betr’s current share price.
Later on Thursday, PointsBet confirmed that MIXI had put forward its bidder statement.
“The PointsBet Directors unanimously recommend that PointsBet shareholders accept the MIXI Takeover Offer, in the absence of a superior proposal,” the statement said.
“Subject to the same qualification, each PointsBet Director who holds or controls PointsBet shares also intends to accept the MIXI Takeover Offer in relation to those PointsBet shares within 10 business days of receiving the MIXI Takeover Offer.”
Meanwhile, MIXI has confirmed it has become a substantial shareholder in PointsBet already, and holds a relevant interest in 9.15 per cent as a result of entering into certain pre-bid acceptance agreements with major PointsBet shareholders, Pictet and Bennelong.
"MIXI Australia is strongly committed to acquiring PointsBet and is offering PointsBet shareholders the certainty of an all-cash offer at a compelling premium, that is fully funded and unanimously recommended by the PointsBet Board,” MIXI president Koko Kimura said.
Betr currently holds 19.6 per cent of PointsBet shares.
