Betr has submitted a new and improved takeover bid for PointsBet, rivalling the latest offer made by Japanese conglomerate MIXI.
The operator’s proposal would see PointsBet shareholders receive 4.375 Betr shares for every PointsBet share they hold.
This would equate to a value of A$1.40 per PointsBet share, based on Betr’s recent, oversubscribed A$130m capital raise.
Betr said this was a “superior” offer to MIXI’s latest A$1.30 per share takeover bid tabled last week.
There are currently 348.7 million PointsBet shares on offer.
Betr remains PointsBet’s majority shareholder, owning 66 million shares, while rival bidder MIXI has a relevant interest in 127.5 million shares.
Betr is also including a selective buyback pool for shares worth A$90m, up from A$80m in its previous offer.
The buyback will be funded by A$80m from Betr’s cash reserves, with the remaining A$10m coming from a shareholder loan facility funded by YAST Investments.
Betr has stated that it will “proceed with the selective buyback irrespective of the level of acceptances it receives under the offer and irrespective of the relevant interest held by MIXI following the close of the MIXI offer”.
Last week, rival bidder MIXI submitted its “last and final” offer for PointsBet, worth A$1.30 per share, should the Japanese conglomerate acquire more than 90% of PointsBet shares.
Betr stated that it would not accept MIXI’s proposal, exercising its right to do so as PointsBet’s largest shareholder.
MIXI would therefore be unable to secure 90% of shares, meaning its offer value would drop to A$1.25 per share.
The deadline given to PointsBet shareholders to accept MIXI’s offer was 29 August 2025.
Betr’s previous offer was worth A$1.35 per share and 4.219 shares for every PointsBet stake.
Earlier this week, MIXI released a statement saying it would not accept Betr’s proposal, highlighting that it has received acceptance of its offer from 37.1% of PointsBet shareholders for its own bid.
PointsBet’s board of directors had dismissed Betr’s last proposal and implored its shareholders to accept the offer presented by MIXI.
The deadline for accepting Betr’s latest offer is 22 September.
The post Betr submits another increased bid for PointsBet to rival MIXI offer first appeared on EGR Intel.
Operator’s latest proposal would see PointsBet shareholders receive 4.375 Betr shares for every PointsBet share
The post Betr submits another increased bid for PointsBet to rival MIXI offer first appeared on EGR Intel.