ATG Encourages Shareholders to OK Novomatic’s Takeover Bid

Summary

Ainsworth Game Technology (ATG) has advised shareholders to accept Novomatic’s revised takeover offer, which the ATG board described as “fair and reasonable”. Novomatic, already the largest shareholder with a 58.8% holding, returned with an improved bid after an earlier approach was criticised for undervaluing the company.

The improved proposal values each ATG share at AUD 1 million, implying a total offer of AUD 158.6 million (about USD 104 million). Novomatic says the price is “best and final.” ATG’s Independent Board Committee unanimously recommends acceptance, subject to the Independent Expert’s view and the absence of any superior proposal. The Target’s Statement was lodged with ASIC on 15 September and is expected to be sent to shareholders on 17 September 2025. ATG aims to complete the transaction by 3 November 2025.

Key Points

Novomatic already owns 58.8% of Ainsworth Game Technology and has made a renewed takeover bid for the remaining shares.
The improved offer values ATG at AUD 158.6 million (approx. USD 104 million), equating to AUD 1 million per share.
ATG’s Independent Board Committee unanimously recommends shareholders (other than Novomatic) accept the offer, subject to the Independent Expert’s conclusion and no superior proposal emerging.
Novomatic has indicated this is its “best and final” price after an earlier bid was publicly criticised and resisted by a shareholder alliance.
ATG lodged its Target’s Statement with ASIC on 15 September; it will be sent to shareholders on 17 September 2025, with a hoped closing date of 3 November 2025.

Why should I read this?

Quick and blunt: if you own ATG shares or watch the gaming-machines sector, this is where the ownership ball is rolling. The board wants the deal done, Novomatic says its price is final, and shareholders have a pretty tight timetable. Read the detail if you care about valuation, possible counterbids or how control of a major supplier in the iGaming supply chain might shift. If you don’t own ATG, skim it anyway — it’s a neat indicator of consolidation in the industry.

Source

Source: https://www.gamblingnews.com/news/atg-encourages-shareholders-to-ok-novomatics-takeover-bid/