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Tabcorp Holdings Ltd (TAH.AX)

TAH.AX on Australia Stock Exchange

4.75AUD
28 Apr 2017
Change (% chg)

$-0.03 (-0.63%)
Prev Close
$4.78
Open
$4.75
Day's High
$4.78
Day's Low
$4.73
Volume
2,650,788
Avg. Vol
3,263,385
52-wk High
$5.30
52-wk Low
$4.09

Latest Key Developments (Source: Significant Developments)

Tatts board continues to believe proposed Tabcorp merger is in best interests of shareholders
Thursday, 27 Apr 2017 06:47pm EDT 

April 28 (Reuters) - Tatts Group Ltd :Tatts' board continues to believe that proposed tabcorp merger is in best interests of tatts shareholders.board unanimously recommends proposed tabcorp merger in absence of a superior proposal.Pacific consortium revised indicative proposal not superior.Tatts is unable to provide due diligence or engage with Pacific Consortium.  Full Article

Pacific Consortium updates on proposal to acquire Tatts
Sunday, 23 Apr 2017 07:30pm EDT 

April 24 (Reuters) - Pacific Consortium:to permit further dividend payments to tatts shareholders in addition to its all-cash $4.21 per share proposal in the event transaction completion delayed beyond second half of 2017.$4.21 per share proposal superior in value to tabcorp proposal on 44 days of 57 trading days since Tabcorp’s last results announcement".believes Tatts independent chairman and board should consider this proposal seriously and allow the consortium to conduct due diligence.  Full Article

Tatts Group comments on Pacific Consortium's amendments to its proposal to buy co
Sunday, 23 Apr 2017 07:30pm EDT 

April 24 (Reuters) - Tatts Group Ltd :Tatts has not yet formed a view on how revised indicative proposal compares to merger proposal from tabcorp holdings limited.Received correspondence from pacific consortium to amend terms of its revised non- binding, indicative and conditional proposal to acquire tatts for $4.21 cash per share.Tatts notes that under terms of revised indicative proposal, tatts shareholders will not receive a final dividend for year ended 30 june 2017.  Full Article

Tabcorp to divest Odyssey Gaming Services if combination with Tatts is implemented
Monday, 17 Apr 2017 09:39pm EDT 

April 18 (Reuters) - Tabcorp Holdings Ltd :Tabcorp to divest Odyssey if tatts combination is implemented.agreed to divest odyssey as part of process for securing competition approvals for proposed combination of Tabcorp and Tatts Group.agreements are conditional upon australian competition and consumer commission accepting an undertaking to be provided by tabcorp.  Full Article

Tabcorp to seek authorisation from Australian Competition tribunal on Tatts merger
Sunday, 12 Mar 2017 07:07pm EDT 

Tabcorp Holdings Ltd : Tabcorp to seek authorisation from Aust Competition tribunal . Lodged an application with australian competition tribunal for authorisation to proceed with proposed combination of Tabcorp and Tatts Group . As a consequence of lodging an application with tribunal, tabcorp has withdrawn its application for informal clearance by accc . Tabcorp is confident that as part of tribunal process it will address all relevant issues raised in soi by accc .Formed a view that it has a compelling case to pursue a merger authorisation application in Australian Competition tribunal.  Full Article

Tatts Group responds to ACCC SOI regarding proposed merger of Tabcorp and Tatts Group
Wednesday, 8 Mar 2017 07:33pm EST 

Tatts Group Ltd : Unanimously recommends proposed tabcorp merger, in absence of a superior proposal . Tatts will continue to work with Tabcorp to progress competition approval process and all other regulatory approvals .Refers to ACCC statement of issues (soi) in relation to proposed merger of tabcorp and Tatts Group.  Full Article

Tatts Group responds to ACCC SOI regarding proposed merger of Tabcorp and Tatts Group
Wednesday, 8 Mar 2017 06:59pm EST 

Tatts Group Ltd : Unanimously recommends proposed tabcorp merger, in absence of a superior proposal . Tatts will continue to work with Tabcorp to progress competition approval process and all other regulatory approvals .Refers to ACCC statement of issues (soi) in relation to proposed merger of tabcorp and Tatts Group.  Full Article

Tabcorp repsonds to ACCC statement regarding Tatts group merger
Wednesday, 8 Mar 2017 06:23pm EST 

Tabcorp Holdings Ltd : Tabcorp notes ACCC announcement,tts-tah.ax . Notes statement of issues released today by ACCC in relation to proposed combination of Tabcorp and Tatts Group Limited . Believes it is well advanced in addressing issues identified in SOI . ACCC has identified several other issues which may raise concerns . "Tabcorp has committed to divest its Odyssey gaming services business and is well advanced with a sale process" . ACCC has also identified several issues which are unlikely to raise concerns . ACCC raised one substantial issue of concern, is in relation to electronic gaming machine monitoring services and repair, maintenance services in queensland ."Tabcorp will continue to review the soi and assess its options to maximise the prospects of receiving competition approval for the transaction".  Full Article

ACCC issues statement on proposed merger of Tabcorp and Tatts
Wednesday, 8 Mar 2017 05:32pm EST 

Australian Competition And Consumer Commission - : Considers Tabcorp and Tatts primarily compete for online and telephone customers . Seeking comment on Tabcorp's divestment proposal to sell its queensland electronic gaming machine monitoring business . ACCC issues statement on proposed merger of tah and tts-axx,tah,tts . Considers Tabcorp and Tatts primarily compete for online and telephone customers . ACCC notes there is limited competitive overlap between retail wagering operations of merger parties which are exclusively held in separate states and territories . ACCC's preliminary view is that proposed merger is likely to lessen competition in supply of monitoring & other services to pokies venues in queensland . Says, Tabcorp has recently provided ACCC with a divestment proposal to sell its queensland electronic gaming machine monitoring business .ACCC's final decision will be announced on 4 May 2017.  Full Article

Tabcorp Holdings HY net profit attributable $58.9 mln
Wednesday, 1 Feb 2017 05:06pm EST 

Tabcorp Holdings Ltd : HY revenue from ordinary activities $1.16 billion, up 2 pct . HY net profit for period attributable to members $58.9 million, down 28 pct . Declares interim dividend 12.5 cents per share . FY17 dividend target is greater of 90 pct of NPAT before significant items and amortisation of Victorian Wagering and Betting Licence or 24 cents per share . Tabcorp's proposed combination with Tatts Group is expected to deliver significant value for both sets of shareholders . Tabcorp's target is to achieve 14 pct return on invested capital in FY17, excluding impact of significant items . "Dividend reinvestment plan (DRP) will operate in respect of this interim dividend" .FY17 capex expected to be approximately $200 mln, including $27m in 2H17 related to TGS expansion.  Full Article

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