2338 GMT - The takeover tussle for PointsBet just got more interesting. MIXI Australia has raised its offer for PointsBet by 13% to A$1.20/share. Also, MIXI could make an off-market bid if it is unsuccessful with its Scheme Implementation Deed. MIXI's offer price now matches the all-cash bid by betr Entertainment. "The ball now appears to be in betr's court though the ability to increase its bid seems limited given funding constraints or limitations," Bell Potter analyst Chris Savage says. Betr owns 19.9% of PointsBet, which means MIXI is unlikely to succeed with the Scheme. This explains why MIXI is considering proceeding with an off-market offer if the Scheme is not approved, Bell Potter says. "Hence this may still have a way to play out," it adds. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 04, 2025 19:38 ET (23:38 GMT)
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