Tabcorp Holdings Ltd (TAH.AX)
23 May 2017
-- Note: Reuters has not verified this story and does not vouch for its accuracy (Sydney Newsroom; +61 2 9321 8171)
* Competition tribunal due to rule on Tabcorp bid in mid-June
SYDNEY, April 28 Australian lottery operator Tatts Group on Friday said a A$6.15 billion cash takeover offer from a consortium backed by U.S. private equity giant KKR & Co was not superior to a cash-and-scrip bid from Tabcorp Holdings.
* 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
SYDNEY A group backed by private equity firm KKR & Co on Wednesday said it had made a revised A$6.15 billion ($4.65 billion) offer for Australia's biggest lottery operator Tatts Group Ltd , upping the ante in a bidding war against Tabcorp Holdings Ltd .
* Consortium cash bid rivals cash-and-scrip offer from Tabcorp
SYDNEY, April 19 A consortium backed by U.S. private equity giant KKR & Co offered A$6.15 billion ($4.65 billion) cash for Australian lottery operator Tatts Group Ltd, threatening an agreed merger with Tabcorp Holdings Ltd, two sources familiar with the situation said on Wednesday.
* Tabcorp to divest Odyssey if tatts combination is implemented
* Federal court has approved that settlement, under which Tabcorp will pay a penalty of $45.0 million (plus Austrac's legal costs on an agreed basis)
* Tabcorp to seek authorisation from Aust Competition tribunal