November 29, 2017 / 11:29 PM / in 14 days

Australia's CrownBet to not oppose Tabcorp-Tatts merger

Nov 30 (Reuters) - Horse-race betting giant Tabcorp Holdings Ltd said on Thursday that rival CrownBet has agreed not to oppose the company’s $4.7 billion takeover offer for Tatts Group Ltd.

Tabcorp’s offer for the lottery owner was cleared by an Australian tribunal earlier this month and CrownBet has agreed not to apply for judicial review of the tribunal’s decision, the company said in a statement. (Reporting by Chandini Monnappa in Bengaluru; editing by Richard Pullin)

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