In today’s briefing:
- PointsBet (PBH AU): Mixi Attempts to Call Betr’s Bluff with a Final Offer
- PointsBet (PBH AU): Mixi Bumps, Again, And Declares Terms Final
- Strategic Minerals PLC – Hybridan Small Cap Feast: 14/08/2025
PointsBet (PBH AU): Mixi Attempts to Call Betr’s Bluff with a Final Offer
- Mixi Inc (2121 JP) disclosed its final PointsBet Holdings (PBH AU) offer. The base unconditional offer remains A$1.25 but will be increased to A$1.30 if it acquires a 90% stake.
- Mixi’s final offer is designed to put maximum pressure on BETR Entertainment (BBT AU) to fold. Mixi would not satisfy the 90% threshold unless Betr accepts its offer.
- Betr has three options: to improve its offer, accept Mixi’s offer, or maintain terms. The last option, which results in a significant stake in a competitor, makes strategic sense.
PointsBet (PBH AU): Mixi Bumps, Again, And Declares Terms Final
- Mixi Inc (2121 JP) has bumped its Offer to A$1.30/share, up from A$1.25/share; and declared terms final. Mixi currently holds 37.12% of shares out.
- Separately, PointsBet Holdings (PBH AU) released its Target Statement as it relates betr Entertainment (BBT AU)‘s all-scrip Offer, with a definitive “Reject”.
- Mixi’s Offer is open to the 29th August – and will not be extended. Time for betr to fold its tent.
Strategic Minerals PLC – Hybridan Small Cap Feast: 14/08/2025
- Our daily digest of news from UK Small Caps Feast will take a well earned break for the weeks of 18th and 25th August.
- Wishing everyone a lovely summer holiday period.
- 14th August 2025 @HybridanLLP * A corporate client of Hybridan LLP.
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