PointsBet Holdings Limited has responded critically to Betr Entertainment Limited’s (ASX: BBT) non-binding, all-scrip takeover proposal, citing concerns around lack of formal terms, conditionality, and no guaranteed cash value for shareholders. Based on recent trading, the Betr offer equates to only AU$1.05–AU$1.14 per share, significantly lower than the AU$1.20 per share offered in the MIXI Scheme. The PointsBet Board unanimously supports the MIXI offer, which provides full cash consideration and certainty. PointsBet highlighted risks with the Betr proposal including regulatory hurdles, low liquidity of BBT shares, customer overlap post-merger with BlueBet, and overstated synergy claims. The company reaffirmed that the MIXI Scheme is the only actionable transaction and has urged shareholders to vote in favour at the Scheme Meeting on 25 June 2025. Should the scheme not proceed, MIXI will pursue a takeover at the same price. The Board recommends this deal in the absence of any superior proposal.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
