Ainsworth Game Technology Ltd has confirmed that its Independent Board Committee (IBC) continues to recommend shareholders accept Novomatic AG’s unconditional off-market takeover offer. The proposal, set at AUD1.00 per share, values Ainsworth at approximately AUD336.8 million and is aimed at acquiring all shares not already held by Novomatic.
The IBC, composed of Daniel Gladstone, Graeme Campbell, and Heather Scheibenstock, reaffirmed its unanimous support based on the independent expert’s conclusion that the offer remains fair and reasonable. Novomatic, which already owns more than 61% of Ainsworth, has indicated its intention to delist the company from the Australian Securities Exchange once its stake reaches 75%, and may pursue compulsory acquisition beyond 90%.
In contrast, a proportional takeover bid from Kjerulf Ainsworth, son of company founder Len Ainsworth, was recently proposed at AUD1.30 per share for 2.9% of each shareholder’s holdings. However, the board has clarified that this offer is not considered superior to Novomatic’s full acquisition proposal.
Regulatory bodies across 29 jurisdictions are reviewing the takeover as part of gaming compliance processes. While extensions have been granted, Ainsworth continues to work with regulators to ensure timely completion of licensing requirements.
This takeover marks a pivotal moment in gaming industry consolidation, highlighting Novomatic’s strategic expansion in the Asia-Pacific market and strengthening its control over one of the industry’s longest-standing Australian gaming technology providers.
