Latest Takeover Bids News

betr Entertainment has issued its first supplementary bidder’s statement reaffirming its takeover offer for PointsBet, rejecting MIXI’s competing bid and outlining key next steps including a selective buy-back and acceptance facility.

Reef Casino Trust reported a 23.9% decline in half-year net profit due to higher regulatory and transaction costs, while announcing a recommended takeover bid at $3.72 per unit. The Trust declared a reduced distribution of 6.63 cents per unit.

Trading in New World Resources Limited shares has been suspended following compulsory acquisition notices issued by Kinterra Capital, signaling a major ownership shift.

MIXI Australia has extended its unconditional all-cash takeover offer for PointsBet shares, providing shareholders with a certain and attractive alternative to PointsBet’s conditional scrip bid. The offer now runs until 29 August 2025 at A$1.30 per share for acquisitions above 90%.

Elanor Commercial Property Fund's Independent Board Committee has unanimously recommended that securityholders reject the unsolicited takeover offer from Lederer Group, citing undervaluation and lack of control premium.

MIXI Australia has extended its takeover offer for PointsBet to August 29 and plans a final price increase to A$1.30 per share, contingent on securing 90% ownership.

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.

Reef Casino Trust faces a new takeover challenge as Morris Group submits a conditional $191.7 million cash offer, competing with the board-backed Iris proposal. The trust’s Independent Board Committee urges unitholders to hold off while assessing the competing bids.

PointsBet Holdings Limited has lodged its Target’s Statement advising shareholders to reject the unsolicited all-scrip takeover offer from betr Entertainment Limited, endorsing instead the competing all-cash bid from MIXI Australia. The PointsBet Board highlights significant concerns over betr’s offer, including valuation, liquidity, and conditionality.

Iris Cairns Property Pty Ltd has increased its cash takeover offer for Reef Casino Trust units to A$3.72 per unit, with the Reef Corporate Services Limited board unanimously recommending acceptance. The offer values the trust at approximately A$185.3 million and awaits regulatory approvals.

LDR Assets Pty Ltd, part of the Lederer Family Office, has initiated an off-market takeover offer for all stapled securities in the Elanor Commercial Property Fund at a 5.3% premium to recent prices. The bid signals a potential overhaul of ECF’s management and governance.

Ainsworth Game Technology reported a steady half-year profit of $4.9 million on a 25% revenue increase, driven by strong domestic sales and new product launches, while navigating regional challenges and a looming Novomatic takeover bid.