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Australia court upholds appeal against Tabcorp's $4.9 bln buyout of Tatts
September 20, 2017 / 5:40 AM / 3 months ago

Australia court upholds appeal against Tabcorp's $4.9 bln buyout of Tatts

SYDNEY, Sept 20 (Reuters) - An Australian court upheld on Wednesday an appeal against betting firm Tabcorp Holdings Ltd’s agreed A$6.15 billion ($4.9 billion) buyout of lotteries operator Tatts Group Ltd.

The deal was cleared in June by the Australian Competition Tribunal, a court-affiliated body, but antitrust regulator the Australian Competition and Consumer Commission appealed the decision.

“The court orders that the decision of the tribunal ... be set aside (and) be referred back to the tribunal for further consideration,” three Federal Court judges wrote, without publishing reasons.

$1 = 1.2473 Australian dollars Reporting by Tom Westbrook and Byron Kaye; Editing by Stephen Coates

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