Shares of betr Entertainment (ASX:BBT) fell past 3% in recent Wednesday trade, while shares of PointsBet Holdings (ASX:PBH) were flat after betr said in a late Tuesday filing that it will increase its all-scrip off-market takeover offer for all of the fully paid ordinary shares in PointsBet it does not currently hold to 4.735 betr shares for each PointsBet share held, according to a Wednesday Australian bourse filing.
The company previously offered 4.375 betr shares per one PointsBet share held as part of the offer.
The company said that its new offer is superior to Japanese consumer technology firm MIXI's unit, MIXI Australia's offer of AU$1.25 cash per PointsBet share.
It also said it will increase the size of its selective buyback to at least AU$90 million from at least AU$80 million.
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