Novomatic has tabled an unconditional takeover offer for all Ainsworth Game Technology (AGT) shares it does not already own. The offer is at AU$1.00 (US$0.64) per share in cash.
The Austrian gaming giant, which already controls 52.9% of Ainsworth, said the bid provides “certainty and liquidity.” This is important for investors concerned about AGT’s future. The price is identical to its ongoing Scheme of Arrangement and represents a 35% premium to Ainsworth’s pre-deal share price.
Independent Board Recommends Acceptance
Ainsworth’s Independent Board Committee has urged shareholders to accept both offers. This is subject to the Independent Expert reaffirming that the deal is “fair and reasonable.” Novomatic has confirmed the AU$1.00 offer is “best and final” and will not be increased.
Since the new bid is unconditional, Novomatic can also buy AGT stock on-market at or below the offer price.
Family Opposition and Next Steps
The new bid follows signals that members of the Ainsworth family intend to vote against the Scheme of Arrangement at the 29 August shareholder meeting. This meeting may now be delayed. Novomatic said the unconditional structure “puts the decision-making process back into the hands of individual shareholders.”
If the scheme fails, Novomatic said it would adopt a more active role. They may seek additional board seats and review AGT’s dividend policy, assets, and corporate structure. If its stake rises to 75%, it will also seek to delist AGT from the Australian Securities Exchange.
Strategic Outlook
Novomatic first acquired its majority stake from founder Len Ainsworth in 2016. It has since expanded across Asia-Pacific and North America. Ainsworth remains a global slot supplier with distribution in regulated markets.
The final outcome now depends on shareholder support, with a revised timetable for the vote expected in the coming weeks.
