No further talks planned
Tatts,Tabcorp unable to strike deal
The Tatts Group and Tabcorp, two of Australia’s biggest gambling firms said they held discussion over a possible merger but called off the meetings as no common ground could be found between them for the deal.
2015-11-17
Reading time 34 seg
The Tatts Group and Tabcorp, two of Australia’s biggest gambling firms said they held discussion over a possible merger but called off the meetings as no common ground could be found between them for the deal.
In total the two gambling companies are worth nearly $7 billion and would have created a super gambling firm which would have needed competitions regulator authority to proceed should they have moved forward.
However following the statement by both companies confirming the talks they also said that no further talks are planned.
Tabcorp said the two companies had confidential discussions about a potential merger but “were unable to agree mutually acceptable terms and those discussions have ended”.
Tatts said in a separate statement that “there are no further discussions taking place between the parties relating to a nil-premium merger of equals or any other form of corporate transaction.”
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