PointsBet enters trading halt ahead of MIXI acquisition news
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The news: ASX-listed gambling company PointsBet has entered a trading halt ahead of an announcement relating to Japanese competitor MIXI’s proposed $353 million acquisition.
The context: Trading will resume on Thursday or after the PointsBet announcement is made, whichever is sooner.
PointsBet entered a scheme implementation deed with MIXI in February. Under the scheme, an Australian subsidiary of MIXI would acquire all shares in PointsBet for $1.06 each.
At the time the proposed price represented a 27.7% premium on the close price on 25 February 2025 and a 23.3% premium on the one-month volume weighted average price. However, it is now lower than the last close price of $1.08.
A day after announcing the MIXI deal, PointsBet said it rejected a rival takeover proposal from ASX-listed competitor BlueBet because it was not a superior offer.
After BlueBet re-branded as Betr following a merger it acquired 19.9% of the company in late April.
The source: ASX
