Mixi secures control of PointsBet, blocks Betr from board influence

Mixi has taken majority control of PointsBet with a 51.9 per cent stake.


Australia.- Mixi has confirmed that its AU$1.25 (US$0.81) per share cash offer has given it control of PointsBet, crossing the key 50 per cent threshold after a takeover battle with ASX-listed competitor Betr Entertainment. Mixi said it would appoint board members in line with its majority holding and would vote against any attempt by Betr to install its own directors.

The Japanese group stressed that it has no intention of collaborating with Betr, despite the latter’s claims that “scope for potential synergy realisation” remained. It cited legal restrictions and Betr’s status as a direct competitor. “Mixi Australia cannot and will not act in concert with Betr or enter into any agreement, arrangement or understanding with Betr in relation to the composition of PointsBet’s board or the conduct of PointsBet’s affairs,” the company said.

Betr, which holds about 20.5 per cent of PointsBet shares, has conceded that it cannot gain control of the company. Despite offering an all-scrip alternative, Betr was unable to convince shareholders.


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Mixi’s deal is due to close on 12 September.

Mixi has taken majority control of PointsBet with a 51.9 per cent stake. Australia.- Mixi has confirmed that its AU$1.25 (US$0.81) per share cash offer has given it control of…


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