Press Release: Novomatic Acquires Remaining Stake in Ainsworth for $337 Million
Austria-based gaming technology giant Novomatic has secured a deal to purchase the remaining 47.1% stake in ASX-listed poker machine manufacturer Ainsworth, valuing the company at approximately $337 million. Novomatic, which already owns a majority share of 52.9%, will acquire the stake at a rate of $1 per share, reflecting a substantial 35% premium over Ainsworth’s last closing price of 74 cents.
The acquisition is subject to customary_conditions and has received unanimous backing from Ainsworth’s Independent Board Committee (IBC). The IBC has recommended that Ainsworth shareholders vote in favor of the scheme of arrangement proposed by Novomatic. Novomatic has stated that its offer is "best and final," indicating that no further increases will be made, although Ainsworth has the option to pay a dividend, which would be deducted from the cash consideration.
In comments regarding the deal, Ainsworth Chairman Daniel Gladstone emphasized the significance of the proposal, stating it represents "a significant premium to long-term trading value" and is appealing for minority shareholders. He noted that the IBC carefully assessed the proposed scheme in light of the company’s growth prospects and alternative opportunities, ultimately concluding that it provides "attractive and certain value" for minority stakeholders.
This acquisition underscores Novomatic’s commitment to expanding its influence in the gaming industry, enhancing its position as a leading player in the sector. As shareholders prepare to cast their votes, the deal marks a pivotal moment for both companies, potentially reshaping the landscape of poker machine manufacturing in Australia.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
