Update On Sale Of Us Business - Competing Proposal

PointsBet Holdings

16/06/2023 09:54

June 16 (Reuters) - Pointsbet Holdings Ltd  PBH.AX :
    * UPDATE ON SALE OF US BUSINESS - COMPETING PROPOSAL
    * OFFER FOR US$195 MILLION IN CASH
    * HAS RECEIVED AN UNSOLICITED NON-BINDING INDICATIVE
PROPOSAL FROM
DRAFTKINGS INC.
    * PROPOSAL TO ACQUIRE US BUSINESS FOR A HEADLINE PURCHASE
PRICE OF
US$195 MILLION IN CASH
    * WILL DETERMINE WHETHER DRAFTKINGS PROPOSAL COULD
REASONABLY BE
EXPECTED TO LEAD TO A SUPERIOR PROPOSAL FOR U.S. BUSINESS
    * BOARD CONTINUES TO RECOMMEND THAT SHAREHOLDERS VOTE IN
FAVOUR OF
FANATICS BETTING AND GAMING TRANSACTION

Source text for Eikon:  ID:nASX5hfTSZ 
Further company coverage:  PBH.AX 

 ((Reuters.Briefs@thomsonreuters.com;))