australia oceania/BUSINESS AND FINANCE

PointsBet proudly announces that MIXI has successfully garnered over 50% approval from shareholders for its takeover bid.

PointsBet confidently announces that MIXI has surpassed the 50% acceptance threshold, paving the way to advance with its takeover bid. The deadline for making a decision has been pushed back to September 12, 2025, in line with the current law.

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Summary

  • PointsBet confidently announces that MIXI has surpassed the 50% acceptance threshold, paving the way to advance with its takeover bid.
  • The deadline for making a decision has been pushed back to September 12, 2025, in line with the current law.
  • As the latest development unfolds, Betr remains silent while PointsBet sees its valuation set at AU$1.30 per share.
PointsBet Holdings Limited has announced an exciting development to the Australian Stock Exchange. MIXI Australia Pty Ltd has secured the necessary approval to move forward with its takeover bid. This move may spell the end of the competitive bidding war with its rival, Betr.

MIXI gets closer to securing PointsBet takeover

MIXI Australia has informed PointsBet that it has now received the essential approvals, with acceptance levels surpassing 50%. Previously, a similar voting outcome was disrupted when Betr highlighted that its supporting votes were not included, necessitating a partial revote. With this latest advancement, the closing date for MIXI Australia’s proposal has been extended by 14 days, now set to conclude at 7:00 pm Melbourne time on Friday, September 12, 2025. Last week, MIXI Australia presented what it labeled as an enhanced and final offer: an all-cash buyout of PointsBet valued at AU$1.30 per share, challenging Betr’s stock-based acquisition proposal. This updated offer improves upon MIXI’s earlier bid of AU$1.25. However, MIXI has clearly stated that they will make no further revisions; the decision now lies in the hands of the shareholders.

Concerns raised over Betr’s takeover proposal

Last week, MIXI's acceptance rate with PointsBet was around 37.12%. According to the latest ASX filing, this rate has now soared to over 50%. Initially, the deadline for accepting the offer was today, Friday, August 29, but now PointsBet and its shareholders have two more weeks to consider the takeover bid. PointsBet has been vocal in pushing back against Betr's proposal, highlighting concerns over its business practices that seem unsustainable. The company also raised alarms, pointing out that a substantial portion of its revenue comes from a small slice of its customer base and certain specific verticals. (

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This article was researched and published by the Editorial Team under our Editorial Policy.

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