ATG Urges Shareholders to Approve Novomatic’s Renewed Takeover Offer
Novomatic Presents Revised Takeover Proposal
Ainsworth Game Technology (ATG), a leading manufacturer of gaming machines, has announced its support for the recent takeover bid submitted by Novomatic. The prominent gaming company currently holds a majority stake of 58.8% in ATG and aims to acquire the remaining shares.
This new offer comes after an earlier proposal by Novomatic faced opposition from ATG’s shareholders, including significant investors aligned with the company’s founder’s family, who believed the previous bid undervalued the company.
In response, Novomatic increased its offer to AUD 1 per ATG share, which values the company at approximately AUD 158.6 million (around $104 million). Novomatic has indicated this is their final and best offer.
ATG Declares Offer Fair and Advises Acceptance
ATG’s board has reviewed the revised proposal and labeled it as fair and reasonable. They have encouraged shareholders, aside from Novomatic, to accept the offer. This recommendation was made in an official Australian Securities Exchange (ASX) statement issued on September 15.
The Independent Board Committee at ATG unanimously supports this direction, subject to continued confirmation from their independent expert that the offer remains fair and reasonable, or at least reasonable even if not fully fair, and in the absence of any superior bid.
For shareholders hesitant or uncertain, ATG advises taking no immediate action and seeking independent professional advice tailored to their personal financial situation, investment goals, and tax considerations. Daniel Gladstone, chair of the Independent Board Committee, emphasized the importance of personal evaluation before deciding.
Key Dates and Closing Timeline for the Takeover
The Target’s Statement related to the offer was submitted to Novomatic and lodged with the Australian Securities and Investments Commission on September 15, 2025. ATG plans to distribute this document to all shareholders by September 17, 2025.
The company aims to finalize the takeover transaction by November 3, 2025, marking the anticipated completion of this acquisition process.
