PointsBet Holdings Continues to Recommend Shareholders Accept Proposed Acquisition by Mixi Unit

MT Newswires Live

Jun 23

PointsBet Holdings (ASX:PBH) board continues to recommend 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, according to a Monday Australian bourse filing.

The board's recommendation follows a proposed takeover offer by betr Entertainment (ASX:BBT) of AU$1.14 in cash per PointsBet share, based on betr's closing share price on June 20.

The company said betr's proposed offer is materially below the AU$1.20 in cash per PointsBet share being offered by Mixi Australia under the Mixi takeover offer.

betr's offer is also highly conditional and subject to various approvals, the company added.

The company's shareholders will also have material exposure to Betr's business.

Flagstaff Partners is the company's financial adviser, and Baker McKenzie is acting as legal adviser.

Shares of betr fell 12% in recent Monday trade.

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