PointsBet Holdings (ASX:PBH) said it has received a confidential takeover proposal from Betr Entertainment (ASX:BBT) on Tuesday, April 29, according to a Friday filing with the Australian bourse.
The proposal is currently under review by the company's Board with the assistance of external advisers, and the company has sought key clarifications from Betr to fully assess the offer, the filing said.
PointsBet continues to recommend that shareholders vote in favor of the proposed acquisition by Japanese consumer technology firm MIXI's unit, MIXI Australia, under an all-cash deal valued at AU$1.06 per share, in the absence of a superior proposal and subject to an independent expert's assessment.
Shareholders are not required to take any action at this time, the filing added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.