The off-market takeover offer made by MIXI Australia Pty Ltd (“MIXI Australia”) for all of the ordinary shares in PointsBet Holdings Limited (“PointsBet”) of A$1.20 per share in cash (“Takeover Offer”) has opened today for PointsBet shareholders with limited conditions, including a 50.1% minimum acceptance condition.
Prior to the Takeover Offer opening, MIXI Australia has secured pre-bid acceptance agreements in respect of 9.15% of PointsBet shares. When added to the 8.02% of PointsBet shares held by the PointsBet Directors, who have stated that they intend to accept the Takeover Offer in the absence of a Superior Proposal (as defined in section 10.1 of MIXI Australia’s Bidder’s Statement), this equates to 17.18%.
MIXI Australia has received relevant approvals from gaming regulators in Australia and Canada, and accordingly there are no outstanding conditions relating to gaming regulatory approvals.
MIXI Australia’s Takeover Offer is all-cash, fully funded and unanimously recommended by the PointsBet Board (in the absence of a Superior Proposal). In its announcement to the ASX on 17 July 2025, PointsBet’s Board has advised shareholders to take no action in relation to the offer from betr Entertainment Limited (“betr”).
MIXI Australia’s Takeover Offer to acquire all of the ordinary shares in PointsBet has today opened for acceptance. The Takeover Offer is open until 7:00pm (Melbourne Time) on 25 August 2025, unless extended or withdrawn.
MIXI Australia has received commitments (in the absence of a Superior Proposal) prior to the Takeover Offer opening as follows:
MIXI Australia has entered into Pre-Bid Acceptance Agreements with institutional shareholders representing 9.15% of PointsBet shares, including Bennelong Long Short Equity Management Pty Ltd (which owns a 2.76% shareholding in PointsBet) and Pictet Asset Management (Singapore) Pte Ltd (which owns a 6.40% shareholding in PointsBet), on the terms attached to MIXI Australia’s Form 603 (Notice of Initial Substantial Holder) released to ASX on 17 July 2025.
The PointsBet Directors, who hold a combined 8.02% interest in PointsBet shares, have also stated in PointsBet’s announcement to the ASX on 17 July 2025 that they intend to accept the Takeover Offer in respect of all of their PointsBet shares, in the first 10 business days of the Takeover Offer being open, in the absence of a Superior Proposal.
MIXI Australia believes this combined 17.18% of PointsBet shares, and the commitments received from the abovementioned PointsBet shareholders and statements of intention by the PointsBet Directors received prior to the Takeover Offer opening (and noting the votes cast at the PointsBet shareholder meeting on 25 June 2025 in respect of MIXI Australia’s previous offer to acquire PointsBet shares by scheme of arrangement at the same price), demonstrate strong momentum towards satisfying the minimum acceptance condition of 50.1% of all PointsBet shares.
