Tag Archives: Tatts

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 »

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 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 drops Tatts pursuit

Pacific Consortium the special vehicle of London private equity firm Macquarie Group and New York hedge fund Kohlberg Kravis Roberts (KKR) will no longer pursue its AUS $7.3 billion (£4.5 billion) acquisition of Australian gambling operator Tatts Group. The deal withdrawal follows Tatts’ board decision not to review Pacific’s latest takeover bid of $4.21-per-share combined with an investor ‘dividends add-on’ which the investment firm …

Read More »

Pacific Consortium adds ‘dividends sweetener’ to Tatts offer

In a bid to outmanoeuvre Tabcorp Holdings and derail the firm’s planned AUS $11 billion merger with Tatts Group, the Pacific Consortium has offered Tatts investors a ‘deal sweetener’ should they favour their AUS $7.3 billion all-cash for Tatts assets. The joint-venture investment vehicle headed up London private equity firm Macquarie Group and New York hedge fund Kohlberg Kravis Roberts (KKR) will …

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 …

Read More »

ACCC watchdog wants Tabcorp & Tatts to restructure assets

Australian gambling market concerns published by the Australian Competition and Consumer Commission (ACCC) regarding the planned AUS $11 billion merger of gambling giants Tabcorp Holdings and Tatts Group has led to a restructure of assets in order for stakeholders to gain ‘final merger approval’. Issuing a 38-page report, the ACCC has detailed that the combining of Tabcorp and Tatts assets …

Read More »

Ladbrokes Coral & William Hill eyeing Tatts wagering assets

‘The Australian’ newspaper has this weekend reported that FTSE-listed betting operators’ Ladbrokes Coral and William Hill are eyeing the potential takeover of ASX-listed Tatts Group’s sports betting assets, should the company be acquired by the Pacific Consortium. Last week, Pacific Consortium a group of investors led by London private equity firm Macquarie and New York fund KKR made a formal AUS …

Read More »

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 …

Read More »

Tabcorp reports flat revenues on last Melbourne Cup before merger

Last week’s Melbourne Cup provided a thrilling finish when Almaddin edged out Heartbreak City at the winning post, but the amount of wagering on the day was not as exciting. According to Australian bookmaker Tabcorp, there was $141.5 million (£87.7m) wagered on the 10-race Melbourne Cup meeting at Flemington across the Tabcorp-owned NSW, Victorian and ACT TABs, which was in …

Read More »