PointsBet has two bids on the table and a tight timeline. The board says one option gives cash certainty; the other hinges on approvals. The phrase PointsBet takeover offer sums up the week’s developments.

• betr lifted its terms to 4.375 betr shares per PointsBet share. The bid needs betr shareholder approval at a 22 September EGM and runs to 25 September, with no extension beyond 2 October except by law. “The PointsBet Board unanimously recommends that PointsBet shareholders REJECT the revised… betr Scrip Offer.”

• betr freed the employee incentives condition and lifted the selective buy-back pool to at least A$90m. A new A$10m shareholder loan could take total external debt to up to A$44m, per filings. Liquidity of betr shares on ASX is described as low.

• MIXI Australia offers A$1.25 cash per share. The offer closes 29 August at 7pm Melbourne time, with no further extension planned unless required. PointsBet continues to recommend acceptance in the absence of a superior proposal.

• MIXI held 42.38% of PointsBet as of 27 August. If MIXI ends with effective control, PointsBet intends to offer board seats aligned to MIXI’s stake. PointsBet and MIXI are not competitors in Australia or Canada.

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