The Australian arm of the Japanese consumer tech giant MIXI has revised its proposal for the acquisition of PointsBet, offering a more attractive price. This offer comes as PointsBet considers a separate takeover proposal by Betr Australia.
MIXI Australia Seeks to Acquire PointsBet
In February 2025, MIXI Australia submitted a proposal to acquire PointsBet for approximately AUD 353 million ($229 million, current conversion rates). The proposal followed a separate proposal from BlueBet sought to acquire the Australian sportsbook for AUD 340 million ($220.5 million).
In April, however, Betr Entertainment, which acquired BlueBet in 2024, submitted a new offer for PointsBet, valuing PointsBet at AUD 360 million ($233.5 million), which would consist of AUD 260 million in cash, as well as AUD 100 million in betr scrip.
Betr further asserted that synergies could amount to over AUD 40 million a year, delivering a potential value outcome of AUD 1.33 per share for PointsBet shareholders.
At the time of Betr’s offer, PointsBet leaders said that it represents a superior offer. Shortly after that, PointsBet has published a new update regarding Betr Entertainment’s acquisition proposal, proposing that a form of mutual due diligence be undertaken by Pointsbet and Betr.
However, PointsBet didn’t rule out the MIXI proposal either.
MIXI Puts Forward $258M
MIXI just provided an update on its planned acquisition, saying that its board has agreed to increase the proposed price for the acquisition to AUD 398 million ($258 million).
If approved, this acquisition will be carried out through a Scheme of Arrangement (SOA) under the Australian Corporations Act. A Scheme Meeting is set to take place on June 25. If the transaction is approved, the SOA will be implemented on July 8.
MIXI noted that these dates could change depending on a variety of factors. Additionally, the completion of the SOA would depend on approval by PointsBet’s shareholders and additional regulatory approvals.
MIXI further suggested that it could consider an off-market takeover if the SOA fails to secure the necessary approvals.