Pointbet rejects Betr’s offer, giving priority to Mixi

Pointbet Holdings rejected a suggestion to acquire Betr Entertainment, while maintaining its position that the shareholders should accept the alternative offer on the table from the Mixi Australia.

Betr offer is made on the basis of every half (which means that the offer includes entire shares in the acquired company, instead of cash), unlike the Mixi’s cash offer.

Pointbet ignores the Betr evaluation, given how he calculated.

In an offer that was submitted directly to the Australian Al -Kamamah shareholders, instead of the Board of Directors, the buyer wants to obtain the shares of 3.81 of Betr shares for each Pots post.

This results in an assessment of the highest level of $ 1.22 per point, but not everyone agrees.

the The Council has identified confirmation This offer represents only $ 1.03 per share when it depends on the average Betr price for 20 days in size (as of July 16), while raising more objections.

These reasons include the lack of recommendation to this offer is the lack of a cash alternative, exposing the shareholders to the risks of market fluctuations, liquidity risks, and a heavy customer base. Pointbet also put what he described as the “SPORTSBOK” process, dominated by horse racing.

On the contrary, the offer submitted by the Mixi Australia, a subsidiary of the Japanese Mixi Austable, received a unanimous support from the Pointbet Council.

The CONS proposal from Mixi provides the total evaluation of $ 402 million, and works at $ 1.20 per share.

Both entities are current contributors to the Australian beta company

This last offer is Mixi is Now officially openAnd he made with a recommendation to accept it, but it emerges from the previous offers because it has the requirements for accepting the shareholders less.

You will need to agree at least 50.1 % of Pointbet subscribers, but 17.18 % of managers and pre -tender agreements have already been secured by institution holders.

Betr and Mixi are currently minority contributors to Pointbet, where the former adheres to about 19.6 %, compared to 9.15 %.

Another interesting side of The ongoing epic is what potential offers You will do with Canadian Pointbet.

Mixi has not been published with his real intentions, but it has gained organizational approval in Ontario, where PB is still active, while he has the option to start in Alberta, which will open the regulatory subscription market next year.

Betr indicated that he believes that the other company is “unprecedented”, with an unnecessary agreement with Hard Rock Digital to sell Pointbet Canada for $ 29.6 million.

The end of the line appears to be close to Betr, but don’t exclude it yet.

“This is just the beginning of the value -creating journey that we envision to Betr and Pointbet shareholders for joint works,” she said when presenting.

Although Pointbet gives priority to Mixi, there is possible that there is a new response from its opponent to the official rejection in the coming days.

Credit image: pb