Tabcorp and Entain rumoured to bid for PointsBet, FDA approves Neuren’s Rett drug and IPH dives on cyber security breach
Potential bids from Entain and Tabcorp follow confirmation late last year that Betr was in negotiations with PointsBet regarding a potential sale or merger.
Sources close to PointsBet’s (ASX: PBH) Australian arm have revealed potential acquisition bids are in the works from one of the world’s largest betting and gaming groups Entain (LSE: ENT) and another from major Australian wagering group Tabcorp (ASX: TAH).
Potential bids from Entain and Tabcorp follow PointsBet’s confirmation in late December it was in discussions with owners of Australian wagering operator Betr regarding a potential sale or merger.
Although yet to make an official announcement, PointsBet said in a December ASX release it “routinely explores options to maximise value for shareholders” including evaluating proposals from third parties that it receives “from time to time”.
Entain owns renowned global brands including Ladbrokes, Sportingbet and Neds, while Tabcorp is Australia’s largest multi-channel wagering brand.
Betr was launched in 2022 as a new major Australian bookmaker. News Corp holds a 33% stake in Betr.
FDA approves Neuren’s Rett drug in world first
The United States Food and Drug Administration (FDA) has approved Neuren Pharmaceuticals (ASX: NEU) and partner Acadia’s DAYBUE (trofinetide) treatment for Rett syndrome in a world first, with an official launch expected next month.
DAYBUE is the first treatment to ever be approved for treating Rett syndrome in patients aged two years and older.
Primarily noted in females, Rett is a rare genetic neurological development disorder that impacts the way the brain develops and causes progressive loss of motor skills and language.
In the US, Neuren estimates its potential revenue for DAYBUE in treating Rett syndrome is about US$73 million (A$109 million).
The company is currently advancing discussions with potential partners outside of North America.
IPH shares dive on cyber security incident
Intellectual property services group IPH Limited (ASX: IPH) is the latest entity to be struck by a cyber security breach after it emerged from a trading halt on Thursday with the news.
The company revealed it had “detected unauthorised access” to some of its IT environment on Monday.
Initial analysis indicates the breach primarily impacted the document management systems of its head office and two member firms in Australia: Spruson & Ferguson and Griffith Hack.
IPH stated an investigation is underway to determine whether the information had been accessed by the unauthorised third party.
The company’s share price plunged more than 16% on Thursday following the news.
‘Malicious cyber-attack’ steals Latitude customer data
Another company to be rocked with a cyber scare this week is Latitude Group (ASX: LFS), which detected “unusual activity” on its systems that appeared to be a “sophisticated and malicious” attack.
The company reported the incident on Thursday saying the attacker had obtained employee login credentials, which it used to “steal personal information” held by two service providers.
“As of today, Latitude understands that approximately 103,000 identification documents, more than 97% of which are copies of drivers’ licences, were stolen from the first service provider.”
“Approximately 225,000 customer records were also stolen from the second service provider.”
Latitude stated it is taking “immediate steps” to contact customers impacted and is “doing everything in its power” to contain the incident and prevent further attacks.
Sayona generates first saleable lithium concentrate
Sayona Mining (ASX: SYA) achieved a critical milestone at its North American Lithium (NAL) operation with the generation of its first saleable spodumene concentrate following commissioning.
Sayona owns 75% of the operation in joint venture with Piedmont Lithium (ASX: PLL), which retains the other 25%.
The first concentrate was produced the start of the month, with 1,200 tonnes of saleable 6% lithium grade material generated to date.
Recommissioning of NAL is running on schedule and the maiden shipment is expected to occur in July this year.
For the six month period ending December about 85,000-115,000t of spodumene concentrate will be produced and exported from the operation.