Gaming technology supplier Novomatic has sent an unconditional off-market takeover bid for Ainsworth Game Technology, priced at AU$1 ($0.65) cash per share.
The offer comes after Novomatic in late April announced its intention to acquire all remaining Ainsworth it did not yet own for some AU$336 million ($216 million).
The move is seen as a bolster to the group’s Australian operations, as the group previously held some 52.9 percent of Ainsworth’s shares – purchased in 2016 from founder Len Ainsworth.
‘Novomatic has stated that the offer price is final and will not be increased’, indicated Ainsworth in a Wednesday filing with the Australian Securities Exchange (ASX).
The group’s Independent Board Committee (IBC) notes it recommends to Ainsworth shareholders to accept the takeover bid, planning to vote all of its shares in favor of the scheme.
Ainsworth shareholders will now receive a supplementary scheme booklet regarding the takeover bid ‘in or around September’.
The takeover is subject to majority approval, court approval and submission of documents to the Australian Securities and Investments Commission (ASIC) and the ASX.
The updated takeover bid comes after Ainsworth announced that it saw its net profit drop significantly in 1H25, despite seeing an increase in revenue.
In a separate statement released on Wednesday, Ainsworth indicated: ‘We note that a small number of AGI Shareholders including members of the Ainsworth family, have indicated they will not support the Scheme. This decision, if implemented, may block the Scheme and would eliminate the opportunity for AGIShareholders to participate in the Scheme. By providing the option to sell into the Offer, Novomatichas put the decision-making process back into the hands of AGI Shareholders, regardless of the size of their holding.’
