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Tatts Group Ltd (TTS.AX)

TTS.AX on Australia Stock Exchange

4.30AUD
28 Apr 2017
Change (% chg)

$-0.17 (-3.80%)
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$4.47
Open
$4.40
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$4.23
Volume
6,415,731
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$4.74
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Latest Key Developments (Source: Significant Developments)

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

Tatts Group receives revised proposal from Pacific Consortium
Tuesday, 18 Apr 2017 07:58pm EDT 

April 19 (Reuters) - Tatts Group Ltd :Pacific consortium revised indicative proposal.revised indicative proposal values tatts at approximately $7.2 billion on an enterprise value basis..received a revised, non- binding, indicative and conditional proposal from pacific consortium to acquire 100% of tatts for $4.21 cash per tatts share .Tatts' directors continue to believe proposed Tabcorp merger is in best interests of Tatts shareholders and unanimously recommend proposed Tabcorp merger.terms include tatts shareholders to receive 100% cash consideration of $4.21 per tatts share.cash consideration may include a fully franked special dividend of up to $0.25 per tatts share.proposed transaction to be financed through a combination of equity and debt.pacific consortium has indicative equity commitments of $4.6 billion subject to conditions.expects approvals will be required from various industry bodies, state and territory governments and wagering, monitoring and lotteries.  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

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

Tatts Group says FY revenue from ordinary activities $3.03 bln vs $2.92 bln
Wednesday, 17 Aug 2016 06:36pm EDT 

Tatts Group Ltd : Says FY revenue from ordinary activities $3.03 billion versus $2.92 billion . Says FY net profit for the period attributable to members $233.8 million versus $252 million . Says final dividend 8.0 cents per share .  Full Article

Intralot in talks with Tatts to divest its Australian and New Zealand ops
Wednesday, 3 Aug 2016 05:11am EDT 

Intralot :Says in talks with Tatts Group for the sale of its Australian and New Zealand operations.  Full Article

Tatts Group responds to media speculation
Tuesday, 2 Aug 2016 09:52pm EDT 

Tatts Group Ltd : Media speculation . Tatts Group Limited Tatts) confirms that it has for some time been in discussions with intralot sa (intralot) . Says discussions have advanced to a confirmatory due diligence stage . Discussions in relation to a potential acquisition by Tatts of intralot's Australian and New Zealand businesses . Intralot has agreed to conduct this process on an exclusive basis with Tatts . Says there is no certainty that the discussions will result in a binding transaction .  Full Article

Tatts sells UK slots business
Sunday, 26 Jun 2016 07:14pm EDT 

Tatts Group Ltd : Tatts sells UK slots business . Says FY 2016 npat (continuing operations - excluding talarius) expected range $255M to $265M . Sale of talarius will result in Tatts deriving net proceeds and cash receipts (after transaction costs) of £111M . Says Tatts UK slots business sold to Novomatic . Sale after repaying debt facilities will not have a material impact on continuing earnings per share for the group . Divestment will result in non-cash accounting charge in FY 2016 financial results of A$50M which will be reported as a loss in discontinued operations . Intends maintaining tatts' current dividend policy of paying out approximately 90% of continuing operations npat . Currently intends declaring a fully franked final dividend to be paid in October 2016 .  Full Article

More From Around the Web

KKR-backed group halts work on Tatts takeover offer

SYDNEY A group backed by KKR & Co said on Friday it would not undertake further work on a takeover offer for Australia's Tatts Group Ltd after its A$6.15 billion ($4.60 billion) cash bid was rejected by the lottery operator's board.