Betr increases stake in PointsBet after takeover defeat
The operator has pledged “constructive engagement” with Mixi.
Australia.- Although it lost its takeover bid, Betr Entertainment has increased its holding in PointsBet Holdings to 27.72 per cent positioning itself as a powerful minority shareholder after Japanese company Mixi secured majority control.
The takeover bid earned Betr more than 30 million additional shares and voting power, a role it says it will use to protect shareholder interests and foster “constructive engagement” with Mixi and the PointsBet board.
Betr’s all-scrip offer, valued at AU$1.40 (US$0.91) per share, was ultimately rejected in favour of Mixi’s AU$1.25 (US$0.81) cash bid, which delivered the Japanese group a 66.43 per cent majority stake
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