The corporate watchdog has asked the takeovers panel to look at Len Ainsworth's decision to sell the majority of his stake in his eponymous gaming company.
The founder and executive chairman of Ainsworth Game Technology has agreed to sell most of his 53.7 per cent stake to Novomatic for $473.3 million, leaving the privately owned firm with more than half the shares in the company.
The board has recommended the takeover but the Australian Securities and Investments Commission is seeking to stop Mr Ainsworth's wife, who is AGT's second largest stakeholder, using her stake to influence a shareholder vote on the deal.
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