Media release: Clayton Utz advising MIXI, Inc. on $353 million acquisition of ASX listed PointsBet

MIXI is a consumer technology company that develops and operates mobile games, communication services, publicly managed sports betting services and management of professional sports teams in Japan.

Partner Hiroyuki Kano led the Clayton Utz team working alongside M&A Partner Andrew Walker, Special Counsel Shigeki Yamaura and lawyers Zoe Lineham and Catherine Chincarini. 

Mr Kano said that this transaction is of strategic importance for MIXI. "MIXI's goal is to globalise social betting, a new form of entertainment to be enjoyed with friends."

"MIXI's acquisition of PointsBet supports this vision, combining its TIPSTAR social betting product with PointsBet's strong foundation in the Australian market." 

"It's a pleasure to support MIXI in building its Australian presence."

The proposed scheme of arrangement is subject to customary conditions, as well as gambling regulation approval in Canada (where PointsBet has operations) and the Northern Territory, FIRB approval, and PointsBet shareholder and Court approval. 

If the scheme is implemented, shareholders will receive $1.06 per share in cash. This is expected to occur in mid-2025.

Clayton Utz has worked collaboratively with Japanese law firm Mori Hamada & Matsumoto, Canadian law firm Aird & Berlis LLP and Australian gambling law and regulatory compliance firm Senet.