Australian Tribunal Again OKs $4.8B Tabcorp-Tatts Merger

Law360, New York (November 17, 2017, 4:12 PM EST) -- The Australian Competition Tribunal on Thursday has for the second time approved Tabcorp Holdings Ltd.’s proposed AU$6.37 billion ($4.84 billion) cash-and-stock takeover of rival Tatts Group Ltd., paving the way for the two gambling businesses to form a single industry giant with an enterprise value of AU$11.3 billion.

Horse-race betting firm Tabcorp and lottery owner Tatts announced their merger 13 months ago but then faced regulatory hurdles when mergers and acquisitions arbiter the Australian Competition and Consumer Commission, along with rival betting company CrownBet, voiced concerns...
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