Ainsworth Game Technology (AGT)’s founder and major shareholder Kjerulf David Hastings Ainsworth is opting to extend his off-market takeover bid until January 30th.
The offer was set to expire on Friday, January 23rd.
The bid extension comes amongst the brewing corporate battle by the Ainsworth family – spearheaded by Kjerulf, son of company founder Len Ainsworth – to block a takeover bid by Austrian gaming giant Novomatic.
Novomatic aims for majority control of AGT, aiming to expand its global footprint and strengthen its presence in the lucrative Australian market. The proposed deal would give the European firm significant influence over AGT’s operations, positioning it as a dominant player in the region’s gaming machine industry.
Kjerulf Ainsworth’s takeover bid encompasses the purchase of 2.9 percent of the fully paid ordinary shares in Ainsworth Game Technology that he does not already own.
