PointsBet Rejects Betr Takeover Bid

MT Newswires Live

07/23

PointsBet's (ASX:PBH) board decided to reject the unsolicited conditional off-market all-scrip takeover offer by Betr Entertainment (ASX:BBT), according to a Wednesday filing with the Australian bourse.

Company directors instead unanimously recommended that shareholders accept the all-cash MIXI Australia takeover offer at an offer price of AU$1.20 per PointsBet share, in the absence of a superior proposal, the filing said.

The Betr offer involves 3.81 Betr shares for every 1 PointsBet share, per the filing.

Betr Entertainment shares fell 6% in morning trade Wednesday.

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