Betr Entertainment Vows Constructive Engagement After Losing PointsBet Bid
The long-running contest concluded earlier this month with Japanese firm Mixi, via its Australian subsidiary, securing control of 66.43% of the total voting power in PointsBet.
Betr Entertainment has pledged to pursue “constructive engagement” with Mixi and the PointsBet board after falling short in its takeover attempt for the Australian operator.
The long-running contest concluded earlier this month with Japanese firm Mixi, via its Australian subsidiary, securing control of 66.43% of the total voting power in PointsBet. The acquisition followed months of competing offers and protracted negotiations.
Betr confirmed its own bid closed with 27.72% shareholder support. Despite the outcome, the company said the stake it now holds is sufficient to “block actions that run against shareholder interests and drive constructive engagement with Mixi and the PointsBet board on value creation”.
As part of the deal, Betr will issue approximately 132.74 million new shares to PointsBet shareholders who accepted its offer.
The company also reaffirmed that a selective share buy-back will proceed as planned, opening on 2 October.
