Latest Takeover Bid News

betr Entertainment has lodged a formal application with the Takeovers Panel, contesting PointsBet’s board decision to accelerate vesting of performance rights amid competing takeover bids, a move that significantly boosted MIXI’s voting power.

PointsBet Holdings has issued a second supplementary target’s statement reaffirming its unanimous recommendation to accept MIXI Australia’s $1.25 per share cash takeover offer, despite a competing all-scrip bid from betr Entertainment. MIXI’s conditional price increase to $1.30 is unlikely as it cannot secure 90% ownership.

Reef Casino Trust and Iris Cairns Property Pty Ltd have agreed to increase the takeover bid price to $3.87 per unit, boosting the total offer value to approximately A$192.7 million. The unanimous board recommendation and major unitholder support underscore the deal’s momentum amid regulatory conditions.

betr Entertainment Limited posts a 140% turnover increase to $1.42 billion and achieves a positive EBITDA of $7.2 million in FY25, driven by strategic mergers and market exits. The company ups its takeover bid for PointsBet, signaling aggressive consolidation ambitions.

betr Entertainment Limited marked a transformative FY25 with a successful merger, strategic acquisitions, and a sharp reduction in losses, setting the stage for a major takeover bid of PointsBet.

PointsBet Holdings Limited has issued a supplementary statement urging shareholders to reject betr Entertainment’s increased scrip offer, reaffirming support for MIXI Australia’s competing cash bid. The board highlights risks tied to betr’s offer and underscores the superior value of the MIXI proposal.

betr Entertainment Limited has removed a key condition from its takeover offer for PointsBet Holdings, clearing a significant hurdle in the acquisition process. The move signals increased confidence in completing the deal and reshapes the dynamics for PointsBet shareholders and employees.

betr Entertainment Limited has increased its takeover offer for PointsBet shares to 4.375 betr shares per PointsBet share, valuing each at $1.40 and surpassing MIXI’s cash bid. The company also expanded its selective buy-back pool to $90 million, signaling confidence in its acquisition strategy.

Ainsworth Game Technology has formally cancelled its planned Scheme Meeting following the termination of its scheme transaction with Novomatic AG, while the Independent Board Committee continues to recommend acceptance of Novomatic’s $1 per share takeover bid.

Apiam Animal Health reported modest revenue growth but a sharp net profit decline in FY25, launching a Strategic Reset program under new leadership. The company also received a $0.88 per share acquisition proposal from Adamantem Capital Management.

Novomatic AG has terminated its proposed scheme for acquiring Ainsworth Game Technology but continues its unconditional $1.00 per share cash offer, which retains unanimous board support.

Elanor Commercial Property Fund reported a statutory loss for FY25 but delivered a 6.9% rise in Funds from Operations, while rejecting an unsolicited takeover offer from the Lederer Group.