According to reports from Down Under, online gambling company Centrebet International Ltd. has made a bid to takeover International All Sports Ltd.

A company press release gave the key features of the bid including:

A minimum CASH offer of $0.28 per IAS Share,

An increased CASH offer of $0.33 per IAS Share if Centrebet acquires 90 percent (by number) and moves to compulsory acquisition,

The minimum offer and increased offer represent premiums of:
- 75.0 percent and 106.3 percent to the $0.16 closing price of IAS Shares quoted by ASX on the last trading day preceding the date of this announcement; and
- 54.4 percent and 82.0 percent to the 1 month VWAP of IAS Shares,

The Offer is conditional on greater than 50 percent acceptance and the setting aside of certain confidentiality and standstill arrangements,

Centrebet encourages IAS shareholders to accept its Offer quickly as the Offer is also subject to there being no material adverse change in IAS’s financial performance, position or prospects and the S&P/ASX 300 Index not falling more than 15 percent below the level on the Announcement Date for more than two consecutive days and

Centrebet expects to be sending out further details of its Offer to IAS shareholders shortly.

"Centrebet’s cash offer is an extremely attractive opportunity for IAS shareholders," explained Centrebet chairman Graham Kelly.

"All IAS shareholders have the opportunity to obtain a generous cash price, at a time of ongoing market volatility and following quite a long period of poor financial returns from their company."

"By accepting the Centrebet Offer, IAS shareholders have the opportunity to put an end to their exposure to the inherent risks and uncertainty of holding IAS shares."

"IAS is an excellent strategic fit with our business. Centrebet would become one of the largest corporate bookmakers in Australia, deriving substantially higher revenues than we do today by maintaining both strong brands with their own product offerings."

"We will maintain a conservative capital structure and expect the acquisition to have a positive impact on Centrebet’s earnings per share in the first full year of ownership. Further earnings benefits are expected in the following years, as potential operating synergies of the acquisition are realized."

"Centrebet’s Offer for IAS strikes a good balance between a generous price for IAS shareholders while leaving opportunities for our shareholders to benefit also."

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