PointsBet directors approve ‘final’ MIXI offer, but Betr launches regulatory challenge

PointsBet directors have unanimously recommended that company shareholders accept the ‘best and final’ MIXI Australia takeover offer, while rival bidder Betr Entertainment has launched a fresh regulatory challenge.

MIXI confirmed it is willing to shell out AU$1.25 (US$0.82) per share to acquire PointsBet. 

The ‘unconditional’ offer was made after approval was granted by the Foreign Investment Review Board (FIRB) of Australia to close in on the deal.

Although ‘best and final’ has been used in terms of the proposal, MIXI has stated it retains the right to increase the offer further if it can obtain more than 50% of the overall shareholding. 

This could become possible as all shareholders who approved the initial deal to receive an uplift to their price. 

As it stands, Mixi is a significant minority shareholder with control of 28.2% of PointsBet.

An official communication provided all the latest details on the MIXI takeover offer. 

MIXI PointsBet takeover faces new regulatory challenge from betr