Two of Australia’s biggest listed gambling businesses, Tabcorp and Tatts, have agreed to merge and create an $11.3 billion giant which will control more than 90 per cent of Australia’s totalisator betting and generate revenues in excess of $5 billion.
Key points:
- Enterprise value of $11.3b for merged entity, market cap of $8.6b
- Tatts shareholders would receive 0.8 Tabcorp shares plus 42.5 cents for each Tatts share
- ACCC blocked merger between Tat…
Read the full article at: http://www.abc.net.au/news/2016-10-19/tabcorp-tatts-propose-giant-gambling-merger/7945198