Australian betting operator Betr Entertainment has put forward another bid to acquire rival PointsBet Holdings, claiming that the new offer surpasses the current proposal from Japanese entertainment group MIXI.
In its latest offer, Betr is proposing 4.219 of its own shares for each PointsBet share it doesn’t already own. Based on Betr’s recent capital raising price of AU$0.32 (US$0) per share, the offer values PointsBet at AU$1.35 (US$1) per share, which is significantly higher than MIXI’s offer.
Betr said the valuation also reflects a price of AU$1.33 (US$1) per PointsBet share based on its two-day volume-weighted average share price. The company added that it plans to increase the offer again after the formal offer period is opened.
