Betr makes improved takeover offer for PointsBet
Australian sports and horse racing betting operator Betr Entertainment has made an all-scrip, off-market takeover offer for all remaining fully paid ordinary shares in Australian gambling competitor PointsBet Holdings Limited that it does not own. Betr holds 19.6% of PointsBet shares.
If it accepts the offer, PointsBet shareholders will receive 3.81 Betr shares for each PointsBet share. The offer values each PointsBet share at about AU$1.22, (US$1)1 AUD = 0.6523 USD
2025-07-18Powered by CMG CurrenShift based on a Betr share price of AU$0.32. (US$0)1 AUD = 0.6523 USD
2025-07-18Powered by CMG CurrenShift This compares to MIXI’s cash offer of AU$1.20 (US$1)1 AUD = 0.6523 USD
2025-07-18Powered by CMG CurrenShift per share.
The offer does not need a minimum level of acceptance, but it is subject to several requirements, including the approval of the Betr shareholder under Australian Securities Exchange Listing Rule 7.1. Unless extended, the offer will open on 31 July and end on 8 September.
The deal would allow PointsBet shareholders to benefit from up to AU$44.9 million (US$29.3 million)1 AUD = 0.6523 USD
2025-07-18Powered by CMG CurrenShift in expected annual cost synergies, equivalent to a potential AU$0.67 (US$0)1 AUD = 0.6523 USD
2025-07-18Powered by CMG CurrenShift per share, if realized in full, as per the announcement. Combined with the AU$1.22 (US$1)1 AUD = 0.6523 USD
2025-07-18Powered by CMG CurrenShift value of the offer consideration, this results in a possible total of AU$1.89 (US$1)1 AUD = 0.6523 USD
2025-07-18Powered by CMG CurrenShift per PointsBet share.
A bidder’s statement containing further details will be dispatched to PointsBet shareholders on 31 July.
Betr also highlighted that it may consider improving the terms of the offer, and will provide updates after Australian Securities Exchange requirements. Previously, PointsBet shareholders rejected a Betr proposal in favor of an offer from social media company Mixi.
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