Tag: TAH – TTS

The $11 billion Tabcorp-Tatts merger will go to a shareholders meeting in less than two week’s time with the chances of a second regulatory challenge now gone after the ACCC said Friday morning that it would not ask for another judicial review of the approval by the Australian Competition Tribunal.

There will be a lot of nervous fund managers and shareholders in both Tabcorp and Tatts watching the competition regulator over the next week or so for any signs of a new challenge to the $11 billion merger between the two gaming giants.

The creation of TabTatts is looking more and ore unlikely – at least based on the terms announced on October 18 last year.

The creation of TabTatts will take a little longer to sort out.

Tabcorp still hopes to put its merger with rival Tatts to a shareholder vote in mid October as planned, despite Wednesday’s Federal Court decision to refer the deal back to the Australian Competition Tribunal for a rehearing.

The Federal Court has blown up the $11 billion merger of the two gambling giants, Tabcorp and Tatts.

No wonder the independent expert’s report reckons the $11 billion takeover deal on offer from Tabcorp is a no brainer for Tatts shareholders.

The $11 billion merger of Tabcorp and Tatts faces more delays after the competition regulator, the ACCC signalled it was going to challenge a ruling from the Australian Competition tribunal giving the deal the greenlight.

Tatts Group shares jumped 3.6% and Tabcorp shared edged up 0.4% per cent after the Australian Competition Tribunal (ACT) gave the their $11 billion merger the green light.

Tabcorp (TAH) has spat the dummy at the hesitant approval last week from the ACCC for its $11 billion merger with Tatts Group (TTS) and applied to the Australian Competition Tribunal (ACT) to go ahead with its deal.

Tabcorp Holdings (TAH) has moved a step closer to a successful clearance from regulators for its $6.4 billion bid for rival gaming and wagering group, Tatts (TTS).

Tatts (TTS) shareholders were the big winners yesterday from the proposed $11.3 billion merger with rival Tabcorp (TAH).

Just as global gambling stocks are being hammered in the wake of the arrests of 18 employees (including a senior executive) of Crown Resorts (CWN) by the Chinese authorities, Tabcorp Holdings (TAH) and Tatts Group (TTS) are again pursuing merger talks that could create a $10 plus billion gaming giant.

Tatts Group (TTS) shares fell more than 4% yesterday, but Tabcorp (TAH) shares edged higher yesterday after the High Court ended years of litigation between the companies and the Victorian Government.

Last week it was Nine Entertainment Co (NEC) and Southern Cross Austereo (SXL) getting a sudden burst of support on takeover talk rumours appearing in the media, only to be knocked down.

Tabcorp Holdings (TAH) has today confirmed the sale of its interest in the China Keno business to China Lot Synergy, its joint venture partner, for $15 million.