ATG Encourages Shareholders to OK Novomatic’s Takeover Bid
Summary
Ainsworth Game Technology (ATG) has urged its shareholders to approve Novomatic’s improved takeover offer, describing the proposal as “fair and reasonable.” Novomatic, which already holds a 58.8% stake in ATG, returned with an enhanced bid after an earlier offer faced resistance from major investors. The revised proposal values the company at around AUD 158.6 million (approximately US$104 million) — effectively around AUD 1 per share — and Novomatic says the price is best and final. ATG’s Independent Board Committee unanimously recommends acceptance (except for Novomatic), subject to the Independent Expert’s view and no superior proposal. The Target’s Statement was lodged with ASIC on 15 September and is due to be sent to shareholders on 17 September, with the company hoping to close the deal by 3 November 2025.
Key Points
- Novomatic already owns 58.8% of ATG and has made an improved takeover offer after its earlier bid was rejected by some major investors.
- The improved proposal values ATG at AUD 158.6 million (c. US$104m); Novomatic describes the offer as best and final.
- ATG’s Independent Board Committee unanimously recommends that shareholders (other than Novomatic) ACCEPT the offer, subject to the Independent Expert’s conclusions and the absence of a superior proposal.
- Shareholders who wish to reject the offer were advised to take no action; those unsure are urged to seek independent professional advice, per chair Daniel Gladstone.
- The Target’s Statement was lodged with ASIC on 15 September 2025 and will be sent to shareholders on 17 September; ATG hopes to complete the transaction by 3 November 2025.
Context and Relevance
This is a noteworthy M&A development in the gaming-machine manufacturing sector. Novomatic consolidating full control of ATG would strengthen its position in the market and may affect competition among suppliers to casinos and other operators. For investors, the board’s clear recommendation and the Independent Expert’s forthcoming view are the deciding signals — especially after earlier public opposition from major shareholders. The timetable (Target’s Statement, shareholder communications and hoped-for closing date) gives a concrete schedule for anyone tracking the outcome.
Author’s take (punchy): This isn’t just another press release — it’s the moment Novomatic moves to lock down what it already largely owns. If you follow gaming industry deals or hold ATG stock, the details and dates matter.
Why should I read this?
Short version: if you’ve got ATG shares, any say in this deal could affect your cash or strategy — so you want to know the board’s recommendation and the timeline. If you follow gaming M&A, this shows how a dominant shareholder closes out a target. We’ve skimmed the legalese and pulled the punchlines so you don’t have to.
Source
Source: https://www.gamblingnews.com/news/atg-encourages-shareholders-to-ok-novomatics-takeover-bid/