PointsBet Confirms Receipt of Takeover Proposal from Betr

MT Newswires Live

May 02

PointsBet Holdings (ASX:PBH) said it has received a confidential takeover proposal from Betr Entertainment (ASX:BBT) on Tuesday, April 29, according to a Friday filing with the Australian bourse.

The proposal is currently under review by the company's Board with the assistance of external advisers, and the company has sought key clarifications from Betr to fully assess the offer, the filing said.

PointsBet continues to recommend that shareholders vote in favor of the proposed acquisition by Japanese consumer technology firm MIXI's unit, MIXI Australia, under an all-cash deal valued at AU$1.06 per share, in the absence of a superior proposal and subject to an independent expert's assessment.

Shareholders are not required to take any action at this time, the filing added.

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