BlueBet is making a big move. The Australian wagering company has officially placed an offer to acquire PointsBet. The BlueBet PointsBet acquisition, valued at A$340-A$360 million, could also unlock A$40 million in annual synergies.

• The acquisition offer consists of a A$240-A$260 million cash pool and A$100-A$120 million in scrip consideration.

• Identified synergies from the deal are estimated to be at least A$40 million annually. This includes operational efficiencies and technology integration benefits.

• BlueBet sees this as a strategic opportunity to scale its operations further. The acquisition would provide access to PointsBet’s technology assets and key marketing contracts.

• The proposal was submitted with limited conditionality. It includes regulatory approvals and securing financing, which BlueBet is confident in obtaining.

• Over 20% of common PointsBet and BlueBet shareholders have expressed a preference for a deal with a scrip component. This aligns with BlueBet’s proposed transaction structure.

• BlueBet has secured equity funding support from Jarden, Morgans, and Ord Minnett. The company expects to complete due diligence within 20 business days.

• Next to the BlueBet PointsBet acquisition, PointsBet is currently also in discussions with the Japanese Mixi Group about an A$353m takeover bid.

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