Novomatic, the Austrian gaming giant, has launched a new takeover offer for Ainsworth Game Technology, an ASX-listed company. Novomatic currently holds 52.9 per cent of Ainsworth and is seeking to acquire the remaining shares at $1 per share through an off-market takeover bid. This move follows concerns that its initial proposal, a scheme of arrangement, might be blocked by disgruntled investors. Ainsworth Game Technology supplies gaming machines and software both locally and internationally. Novomatic’s aim is to gain complete control of the business.
Stefan Krenn, an executive board member at Novomatic, stated that the new takeover offer provides shareholders with immediate liquidity. He noted that some shareholders, including members of the Ainsworth family, had indicated their opposition to the initial scheme of arrangement. Krenn warned that their decision could potentially obstruct the scheme and eliminate the opportunity for retail shareholders to participate.
According to Krenn, Novomatic intends to adopt a more proactive approach to its investment in Ainsworth, seeking to improve alignment between decision-making processes and the overall investment strategy, given its substantial stake. The off-market takeover bid, priced at $1 per share, represents Novomatic’s final offer.
The takeover bid will proceed concurrently with the scheme of arrangement, which is scheduled for a vote later in the year. In mid-morning trading, Ainsworth shares experienced a 1 per cent increase, reaching $1.01.
