In a move seemingly off the pages of a Succession script, Inc. today they have submitted a bid of $195 million in cash to acquire the U.S. assets of PointsBet, topping an earlier proposal of $150 million from Fanatics to acquire the business.
DraftKings proposal is a 30% increase from the Fanatics . While the PointsBet board had agreed to a sale to Fanatics, the acquisition still depended on a June 30 shareholder meeting where a vote on the proposal was scheduled.
The directors of PointsBet are committed to acting in the best interest of all shareholders and are considering the DraftKings Proposal alongside its advisers, the company board said in a statement.
Both proposed deals allow PointsBet to keep its Australian and Canadian based assets.
DraftKings…