Novomatic Extends Timeline on Ainsworth Takeover Bid to First Week of December

Novomatic AG has pushed back the deadline on its takeover offer for Australian slot manufacturer Ainsworth Game Technology Ltd, giving shareholders more time to respond. The new cutoff runs until December 3, according to a filing made to the Australian Securities Exchange.

Good to Know

• Offer price remains AUD1.00 per share.
• Novomatic and founder Johann Graf already control about 61.5 percent of Ainsworth.
• Ainsworth’s independent committee previously recommended shareholders accept the offer.

Novomatic first announced the all-cash offer in August, seeking to purchase remaining shares it does not already hold. The company described the offer as unconditional, and the extension means the bid remains open until 7pm Sydney time on December 3, 2025, unless withdrawn or extended again.

The shareholding increase so far has come from both on-market purchases and acceptances from shareholders responding to the takeover offer. The board committee of Ainsworth noted in September that the AUD1.00 per share offer reflected a premium over recent trading levels and provided full liquidity to shareholders. The committee also noted that an independent expert assessed the offer as fair and reasonable, assuming no better bid appears.

A separate proposal surfaced in late October. Kjerulf Ainsworth, son of company founder Len Ainsworth, made what he described as a proportionate offer, seeking to acquire 2.9 percent of each shareholder’s holdings at AUD1.30 per share. Ainsworth stated that Novomatic does not plan to accept that offer, meaning the maximum shares available to Kjerulf Ainsworth would account for less than 1 percent of total shares.

Australian media reports have mentioned ongoing disagreement from Kjerulf Ainsworth, who has argued that the main takeover bid undervalues the company.

FAQ

What is the new takeover offer deadline?

The offer now runs through December 3 at 7pm Sydney time.

How much of the company does Novomatic already control?

Novomatic and founder Johann Graf control roughly 61.5 percent of Ainsworth.

Why did the independent board committee support the offer?

The committee cited price premium, liquidity, and an expert conclusion that the offer is fair and reasonable if no superior offer is presented.

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