Betr increases its takeover bid for Pointsbet

Despite being restricted from presenting its full bidder statement to PointsBet shareholders, the Matthew Tripp-led bookmaker betr has significantly increased its takeover bid for its rival, valuing PointsBet at nearly $450 million. The revised all-scrip offer is pitched at an equivalent of $1.35 per share. Following the announcement, PointsBet’s share price climbed to $1.24 on Wednesday, up from around $1.20, where it had traded steadily for the past two months after MIXI’s earlier improved offer.

However, PointsBet once again rejected betr’s proposal. Meanwhile, MIXI, which had already shown increasing interest in the company, lifted its stake to 26.6 per cent by Thursday, up sharply from 11.7 per cent at the beginning of the week.