Austrian gaming giant Novomatic has launched a second attempt to take full control of Ainsworth Game Technology, an ASX-listed poker machine manufacturer. Novomatic already holds a 52.9 per cent stake in Ainsworth and is seeking to acquire the remaining shares for $1 per share through an off-market takeover bid. Ainsworth Game Technology is an Australian company that designs, develops, manufactures, and supplies gaming machines and associated equipment. Novomatic is a large international gaming group with operations in numerous countries.
The takeover bid comes after Novomatic’s initial scheme of arrangement faced opposition from several major investors, including Allan Gray, Spheria Asset Management, and Kjerulf Ainsworth, who indicated they would vote against the deal. This opposition forced Novomatic to explore alternative options to gain complete ownership of Ainsworth.
The off-market takeover bid, also priced at $1 per share, has been declared Novomatic’s final offer. It will run concurrently with the original scheme of arrangement, which is still slated for a vote later in the year. An independent board committee of Ainsworth, which has faced criticism for allegedly not prioritising the interests of minority shareholders, is unanimously recommending the proposal to shareholders. This situation sets the stage for a crucial decision for Ainsworth shareholders as they weigh their options.
