Gaming machine manufacturer Ainsworth Game Technology (ATG) has encouraged its shareholders to accept Novomatic’s latest takeover offer. In its latest Australian Securities Exchange release, the company defined the offer as “fair and reasonable.”
Novomatic Returned with an Improved Bid
Ainsworth Game Technology has issued a statement in response to Novomatic’s takeover offer through which the latter business seeks to acquire the remaining shares in ATG. To put things into perspective, Novomatic currently owns a 58.8% stake in the manufacturer.
For context, Novomatic recently returned with an improved takeover bid after ATG shareholders slammed an earlier offer for allegedly undervaluing the company. Back then, major investors, including the son of ATG’s founder, formed an alliance to reject the deal.
As a result, Novomatic improved its offer, putting AUD 1 million per ATG share on the table. This proposal implies a total bid value of AUD 158.6 million (approximately $104 million). Novomatic has firmly stated that this price is best and final.
The Offer Is Fair and Reasonable, ATG Says
As mentioned, ATG’s leadership defined the latest offer as “fair and reasonable” and encouraged shareholders to greenlight its passing. In an ASX release published on September 15, the company said:
The Independent Board Committee of Ainsworth unanimously recommends that Ainsworth Shareholders (other than Novomatic) ACCEPT the Offer, subject to the Independent Expert continuing to conclude that the Offer is fair and reasonable or concluding and continuing to conclude that it is not fair but reasonable to Ainsworth Shareholders and there being no superior proposal.
ATG statement
In the meantime, ATG advised shareholders who wish to reject the offer to take no action and encouraged those unsure to seek independent advice. Daniel Gladstone, the chair of ATG’s Independent Board Committee, elaborated:
You should consider the Takeover Offer having regard to your own personal risk profile, investment strategy and tax circumstances. If you are in doubt as to whether to accept or reject the Takeover Offer, you should seek your own independent professional advice.
Daniel Gladstone, chair of ATG’s Independent Board Committee
ATG Hopes to Close the Deal by November 3
ATG added that the Target’s Statement has been sent to Novomatic and lodged with the Australian Securities and Investments Commission on September 15. The statement is expected to be sent to ATG shareholders on September 17, 2025.
ATG also noted that it hopes to close the deal by November 3, 2025.