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BlueBet Holdings Ltd. ( (AU:BBT) ) has issued an announcement.
BlueBet Holdings Ltd., through its subsidiary betr Entertainment Ltd., has announced an all-scrip off-market takeover offer for PointsBet Holdings Limited. The offer proposes 3.81 betr shares for each PointsBet share, valuing PointsBet shares at $1.22, which is higher than a competing offer from MIXI Inc. The proposed merger is expected to create significant value for shareholders, with anticipated annual cost synergies of $44.9 million, potentially enhancing profitability and financial attractiveness. The offer is subject to several conditions, including shareholder approval, and aims to capitalize on the growth potential and scale advantages in the fast-consolidating digital wagering market.
The most recent analyst rating on (AU:BBT) stock is a Buy with a A$0.38 price target. To see the full list of analyst forecasts on BlueBet Holdings Ltd. stock, see the AU:BBT Stock Forecast page.
More about BlueBet Holdings Ltd.
BlueBet Holdings Ltd. operates in the digital wagering industry, offering online betting services. It is Australia’s only ASX-listed pure-play digital wagering operator, which enhances its appeal for institutional investors and provides a potential pathway for inclusion in the S&P/ASX 300 index.
Average Trading Volume: 749,218
Technical Sentiment Signal: Sell
Current Market Cap: A$251.3M
Find detailed analytics on BBT stock on TipRanks’ Stock Analysis page.