• MIXI has placed a new offer, superior to both its old bid and Betr’s most recent one
• The offer prices a potential acquisition at AU$421m and does away with the 50.1% ownership prerequisite
• PointsBet’s Board of Directors continues to back MIXI, but shareholders need to vote as well

A fierce bidding war is going on between MIXI, a Japanese entertainment company, and Betr, an Australian gambling major, which are both vying to acquire PointsBet, yet another sports betting company operating in Down Under.

MIXI returns to the bidding table with its final and superior bid

Over the past months, PointsBet has repeatedly backed MIXI’s offer, finding it superior to what Betr brought to the table, with the latter upping its proposition with another all-shares buyout offer just recently.

Yet, MIXI is back again, now placing a “final” bid, which is worth AU$421m and is the highest offer on the table. The new bid is a comparatively slight improvement on the company’s previous offer, bringing the per share value to AU$1.25 from previously AU$1.20.

MIXI is also dropping a previous requirement to acquire the company with a “50.1% minimum acceptance condition,” which means that the company may not be seeking to fully take over the company in terms of executive decisions to follow.

The PointsBet Board of Directors has repeatedly shown itself in favor of MIXI’s offer, with the latest bid no exception, but still, shareholders need to weigh in.