The deadline for MIXI Australia’s final takeover offer of PointsBet has been extended to August 29th, 2025, and the price has been raised to A$1.30 (~£0.62) per share.
After months of uncertainty, this revision provides clarity on PointsBet’s ownership direction amid a competitive bidding war with rival Australian wagering group Betr Entertainment.
In an attempt to strengthen its hold on the business, MIXI has made the revised offer conditional on acquiring at least 90% of PointsBet’s shares.
The board of PointsBet has advised shareholders to approve MIXI’s proposal, further bolstering MIXI’s standing in the face of counteroffers.
A Competitive Bidding Battle and Board Support
The board of PointsBet swiftly approved MIXI’s all-cash, off-market offer, which was initially valued at roughly A$1.06 (~£0.51) per share and had been pursued since the start of 2025.
In response, Betr Entertainment made an all-scrip offer for shares in the combined company, valued between A$1.22 (~£0.58) and A$1.35 (~£0.65) per share. However, because of anticipated synergies and share valuation risks, there was more uncertainty involved.
PointsBet’s management prefers MIXI’s simpler cash offer over Betr’s higher bid as it is clearer and less risky for shareholders.
Thus, to demonstrate the board’s unanimous support for MIXI’s updated bid, the company called off a shareholder meeting to discuss Betr’s offer.
With the help of this acquisition, PointsBet may be able to focus on its sports betting market presence going forward with solid support.
As the takeover deadline approaches, shareholders are waiting for the final decision that will determine PointsBet’s next move in the rapidly expanding online gambling sector.
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