Latest Takeover News

Iris Cairns Property Pty Ltd has lodged a bidder’s statement for an all-cash $3.87 per unit takeover offer for Reef Casino Trust, securing unanimous recommendation from the trust’s board and major unitholders. The offer, representing a significant premium, awaits regulatory approvals and closes in March 2026.

MIXI Australia has secured majority voting power in PointsBet, pushing the takeover offer deadline to mid-September and setting the stage for full control.

Janus Electric Holdings reported a steep 94% rise in net loss to $8.7 million for FY2025, impacted by a disruptive battery recall and significant restructuring costs. The company completed a reverse takeover, raised $8.8 million, and secured a $5 million MOU for African expansion, signaling a bold shift toward heavy transport electrification.

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 reports a 6% revenue increase and returns to normalised EBITDA profitability in FY25, while the board unanimously backs MIXI Australia’s all-cash $1.25 per share takeover offer, urging shareholders to reject a rival hostile bid.

Broken Hill Mines Limited reported a $2.42 million loss for FY2025 amid a transformative acquisition of Broken Hill Mines Holdings Pty Ltd and a $20 million capital raise, marking its relisting on the ASX under the code BHM.

Scalare Partners Holdings Limited reported a 26% increase in total revenues to $3.54 million for FY25, driven by strong growth in founder support services and strategic acquisitions. However, the Group recorded a statutory loss of $2.65 million amid increased structural and compliance costs following its ASX listing and expansion.

Adriatic Metals Plc shares have been suspended from the ASX to facilitate its proposed acquisition by Dundee Precious Metals Inc. under a UK scheme of arrangement.

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.