Betr has announced an extension to the closing date of its off-market takeover bid for PointsBet. Originally slated to conclude on September 22, the offer will now remain open until September 25. The offer targets all PointsBet shares that Betr does not already own or control.
According to Betr, several key conditions for the takeover have already been met. These include approvals from the Australian Competition and Consumer Commission and the Independent Gambling Organisation. However, the company noted that other conditions remain outstanding and are still pending. The extended deadline aims to provide PointsBet shareholders with additional time to assess the offer.
The extension occurs in light of a revised takeover bid from Japanese corporation Mixi, which has increased its offer to $1.30 per share. This development puts pressure on Betr, whose offer consists of 4.219 Betr shares for each PointsBet share. Based on Thursday’s closing prices, this equates to approximately $1.27. Betr provides wagering and entertainment experiences to punters. PointsBet is an online wagering operator.
