AGT founder extends off-market takeover bid
The Ainsworth family aims to fend off a takeover bid from Novomatic.
Australia.- Ainsworth Game Technology (AGT) founder and major shareholder Kjerulf David Hastings Ainsworth has extended his off-market takeover bid from January 23 to January 30. The bid targets the remaining 2.9 per cent of fully paid ordinary shares not already owned by Kjerulf.
The Ainsworth family, led by Kjerulf, son of company founder Len Ainsworth, aims to fend off a takeover bid from Austrian gaming giant Novomatic, which is seeking a controlling stake to strengthen its foothold in the Australian market.
If approved, the transaction would give the European firm significant influence over AGT as a leading player in the regional gaming machine industry. However, Ainsworth argues that it undervalues the company’s identity and historical significance.
