December 12, 2017 / 8:18 AM / 2 years ago

Shareholders of Australia's Tatts vote for takeover by Tabcorp

Dec 12 (Reuters) - Lottery owner Tatts Group Ltd said on Tuesday its shareholders voted in favor of horse race-betting firm Tabcorp Holdings Ltd’s takeover offer.

The deal, which is being done through a scheme of arrangement, required approval of 75 percent of Tatts shareholders.

Tatts has applied to the Supreme Court of Victoria for approval of the scheme at a hearing scheduled for Dec. 13, it said in a statement.

Meanwhile, the Brisbane-based company said it would pay a fully franked special dividend of 16 Australian cents per Tatts share, subject to the scheme becoming effective. (Reporting by Aditya Soni in Bengaluru; Editing by Gopakumar Warrier)

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