Sunday November 15,2015 : TABCORP TATTS MERGER IMMINENT?
Fresh round of talks would involve a full takeover.
Australian media widely report on the possibility of a merger between Australian betting giants Tabcorp and Tatts Group which if realised would create a A$9.4 billion leviathan.
The Australian Business Journal (ABJ) reports high-level sources as saying the pair were on the “verge of a merger” and a bid was to “unfold in the near future”.
The talks will be the latest in a series the two companies have entered into, discussions in 2006 and 2011 was described as “testing the waters” and “tepid” while an AU$1.7 billion bid by Tabcorp to buy the betting arm of Tatts was previously proposed. According to ABJ this bid would be full takeover of the entire Tatts business.
Any deal would be subject to rigorous inspection by Australian competition authorities.