PointsBet Takeover Hangs in Balance as MIXI Sets Final Offer Deadline
MIXI Australia has extended its takeover offer for PointsBet shares to 29 August 2025 and announced a conditional increase in the offer price from $1.25 to $1.30 per share, aiming to secure at least 90% ownership.
- Offer period extended to 29 August 2025
- Offer price increased from $1.25 to $1.30 per share
- Price increase conditional on acquiring 90% of PointsBet shares
- No further extensions planned beyond statutory requirements
- Compulsory acquisition of remaining shares intended if threshold met
Extension of Offer Period
MIXI Australia Pty Ltd, a subsidiary of Japanese tech firm MIXI, Inc, has formally extended its off-market takeover bid for PointsBet Holdings Limited shares. Originally set to close on 25 August 2025, the offer period will now remain open until 7 – 00pm Melbourne time on 29 August 2025. This extension signals MIXI's continued commitment to securing a controlling stake in the Australian online betting company.
Conditional Price Increase
Alongside the extension, MIXI Australia announced it intends to raise the offer price from $1.25 to $1.30 per PointsBet share. However, this increase is conditional upon MIXI acquiring at least 90% of PointsBet shares before the offer closes. Achieving this threshold would allow MIXI to compulsorily acquire any remaining shares, effectively consolidating full ownership.
Importantly, all shareholders who have already accepted the offer will benefit from the increased price, regardless of when they accepted. MIXI has also clarified that this price increase will be the final adjustment, aiming to provide certainty to shareholders considering their options.
Strategic Implications
The move to extend the offer and sweeten the price suggests MIXI is eager to accelerate its consolidation of PointsBet, a key player in the competitive online gambling sector. The 90% ownership target is a common threshold in Australian takeovers that enables compulsory acquisition, streamlining the path to full control.
For PointsBet shareholders, this development offers a potentially improved exit price but also raises questions about the company's future independence. The extension provides additional time for shareholders to weigh the offer against market conditions and the company’s prospects.
Regulatory and Market Context
The extension and price increase have been lodged with the Australian Securities and Investments Commission and the ASX, complying with the Corporations Act. MIXI has indicated no further extensions will be granted beyond those required by law, signaling a firm deadline for shareholders to decide.
Market watchers will be keen to monitor the acceptance rates in the coming days, as well as any regulatory feedback or competitive responses. The outcome will have implications not only for PointsBet’s valuation but also for the broader online betting sector in Australia.
Bottom Line?
As the deadline nears, all eyes will be on shareholder uptake and whether MIXI can cross the crucial 90% ownership mark to seal full control.
Questions in the middle?
- Will MIXI Australia achieve the 90% ownership threshold before the new deadline?
- How will PointsBet shareholders respond to the increased offer price?
- Could regulatory scrutiny or competing bids emerge before the offer closes?
