The governance of Tabcorp Holdings remains positive that it will conclude its planned AUS $11 billion merger with Tatts Group despite this week’s set-back following the Australian Federal Court’s ruling to ‘refer back’ the deal’s review by the Australian Competition Tribunal (ACT). The Tabcorp-Tatts merger hit a further hurdle on Wednesday, as the Federal Court sided with former deal supervising …
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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 …
Read More »CrownBet backs ACCC filing against ACT’s review of Tabcorp-Tatts
James Packer’s CrownBet has again reiterated its stance against the AUS $11 billion merger of Tabcorp Holdings and Tatts Group Plc, by filing a judiciary appeal against the deal’s progress. CrownBet joins the Australian Competition & Consumer Commission (ACCC) in demanding a new competition review of Tabcorp-Tatts, stating that review body Australian Competition Tribunal (ACT) had acted in an ‘inconsistent’ …
Read More »ACCC demands new review of Tabcorp-Tatts merger highlighting ACT review failures
The Australian Competition & Consumer Commission (ACCC) has filed a federal court order demanding a ‘further judicial review’ of the AUS $11 billion merger of Tabcorp Holdings and Tatts Group Plc. The Tabcorp-Tatts combination to form the ‘outright Australian gambling market leader’ was approved on 20 June by the Australian Competition Tribunal (ACT). However, the ACCC who acted as the …
Read More »Tabcorp governance reviews Luxbet asset
The Australian Business Review has reported that Tabcorp Holdings governance may fold its online sports betting brand Luxbet (Luxbet.com). The Tabcorp asset is currently under review, with Group CEO David Attenborough revealing that the sports betting brand was set to report record losses for its 2017 performance. Following this month’s Australian Competition Tribunal (ACT) approval of the merger of Tabcorp …
Read More »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 …
Read More »Australian betting industry awaits ACT’s Tabcorp-Tatts merger decision
Australia betting/gambling industry stakeholders await the official Australian Competition Tribunal (ACT) decision with regards to the AUS $11 billion Tabcorp Holdings and Tatts Group merger (deal first announced October 2016). Throughout May, the ACT has examined heated debate and opinion with regards to the Tabcorp-Tatts combination to create the Australian gambling market’s outright leader. As the merger review enters its …
Read More »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 …
Read More »Tabcorp enters crucial week for Tatts merger
Tabcorp Holdings governance enters a crucial week for its planned AUS $11 billion merger with main market rival Tatts Group, as its takeover deal is set to be presented to the Australian Competition Tribunal (ACT). In a surprise move last March, Tabcorp governance announced that it had decided to switch the regulatory body reviewing its Tatts merger ditching the Australia Competition …
Read More »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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