Tabcorp seeks authority from Aust’ Competition Tribunal

Company News

by Jessica Amir

Tabcorp Holdings Ltd (ASX:TAH) has lodged an application with the Australian Competition Tribunal for authority to proceed with the combination of Tabcorp and Tatts Group Limited (ASX:TTS).

Tabcorp says the proposed combined company would provide a wide range of benefits to its stakeholders and the Australian racing industry.

Since the transaction was announced, Tabcorp has been engaging with its stakeholders and found strong support for the move.

As a result, Tabcorp says it has a compelling case to pursue a merger application with the ACCC.

Both companies delivered about $1 billion to the racing industry in the 2016 financial year.

Tabcorp Holdings Ltd (ASX:TAH) reported a net profit $58.9 million net for first half of the 2017 financial year.
 

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