Tag Archives: Tatts Group

ACCC’s Federal Court win derails Tabcorp-Tatts merger

The Federal Court of Australia has dealt a major blow for the planned merger of Tabcorp Holdings and Tatts Group, ruling against the Australian Competition Tribunal’s (ACT) right to approve the AUS $11 billion combination. Former merger review body the Australian Competition & Consumer Commission (ACCC) had filed for a Federal Court review in July 2017, having been dropped by Tabcorp …

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Tabcorp-Tatts merger nears conclusion as Tatts sets up October Shareholder Vote

Updating the market, the governance of Australia ASX-listed Tabcorp Holdings Plc has provided a corporate update on its AUS $11 billion merger with Tatts Group, which will create the ‘outright Australian gambling market leader’. The Supreme Court of Victoria has ordered for a meeting of Tatts shareholders on Wednesday 18 October to vote on the proposed Tabcorp-Tatts combination. In preparation …

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Tabcorp promotes Adam Rytenskild as Wagering & Media lead

Updating the market, Australian ASX-listed gambling operator Tabcorp Holdings has confirmed the promotion of Adam Rytenskild as new Chief Operating Officer of its Wagering & Media division. Tabcorp makes the appointment in preparation for the retirement of Craig Nugent as leader of the division later this year. Since 2000, Rytenskild has served in a variety of Tabcorp group senior executive …

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ACT says YES to Tabcorp-Tatts AUS $11 billion merger

Following an arduous nine-month regulatory compliance review, the AUS $11 billion merger of Tabcorp Holdings and Tatts Group has received approval by The Australian Competition Tribunal (ACT). Tabcorp governance this morning issued a corporate update detailing the ACT’s ‘merger greenlight’, with full details of its competition review expected to be published on Thursday 22 June. Updating investors, Tabcorp governance stated …

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Tabcorp governance told to explain unfair price plan ‘Project Alfred’

As the Australian Competition Tribunal (ACT) takes on the role of lead supervising body of the AUS $11 billion planned merger of Tabcorp Holdings and Tatts Group a number of industry stakeholders have addressed concern regarding the combination to create the Australia’s outright gambling market leader. This week, former merger review body The Australian Competition & Consumer Commission (ACCC) revealed …

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Pacific Consortium returns for Tatts Group acquisition with ‘all-cash’ AUS $7.3 billion bid

Pacific Consortium the joint-venture investment vehicle of London private equity firm Macquarie Group and New York fund Kohlberg Kravis Roberts (KKR) has restated its intent to acquire Australian gambling operator Tatts Group, by putting forward a AUS $7.3 billion all-cash transaction for the company. Placing a ‘last minute’ bid for Tatts assets, Pacific intends to derail the operator’s agreed AUS $11 billion …

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Pacific Consortium makes firm £4.4bn bid for Tatts Group

The expected Tabcorp-Tatts merger (first announced October 2016) faces a major challenge as a private consortium led by London private equity firm Macquarie Group and New York fund KKR has today launched an AUS $7.3 billion (£4.4 billion) bid for Tatts Group assets. Under the proposition of ‘Pacific Consortium’ the group of investors has made an approach of between AUS …

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Go South! Ladbrokes Coral studies £2 billion bid for Tabcorp Australia

Less than a month after officially completing its £2.4 billion merger (announced 1 November), the governance of Ladbrokes Coral Plc is reported to be studying a potential £2 billion takeover of Australian gambling operator Tabcorp Holdings. Eager to expand its global footprint, Ladbrokes Coral are reported to have appointed advisers consulting the FTSE operator on its approach for the Australian …

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Competition concerns see UK CMA call for ‘Phase 2’ investigation of Novomatic Talarius buyout

The £116 million acquisition of Talarius arcades by Novomatic Group (Novomatic) faces an ‘in-depth investigation over competition concerns’ by the UK Competition & Markets Authority (CMA). Publishing an industry update, CMA officials detailed that following Novomatic’s acquisition of Talarius, the company would operate 264 UK adult gaming centres, which may harm sector competition conditions. Stating its concerns, the authority detailed …

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International restructure sees Intralot post H1 2016 growth

Updating the market on its H1 2016 performance (period ending 30 June), Athens-listed gambling systems provider Intralot has declared that a reorganisation of international portfolio has helped the company deliver top-line growth. Driven by growth in its markets of US, Turkey and Bulgaria, Intralot would record H1 2016 group revenues of €639 million (H1 2015: €618 million). The improved group …

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