Tribunal hearings scheduled for Tatts and Tabcorp

Company News

by Kathy Skantzos

Tatts (ASX:TTS) has advised that the Australian Competition Tribunal yesterday set a proposed timetable for the reconsideration and determination of Tabcorp’s application for the authorisation of the combination of Tatts (ASX:TTS) and Tabcorp (ASX:TAH).

Hearings are expected to take place on 24 and 25 October this year.

The Tribunal will proceed on the basis that it has jurisdiction to undertake further consideration of Tabcorp’s existing application for authorisation as ordered by the Federal court.

Tabcorp indicated it will also lodge a new application for authorisation which is expected to be considered concurrently with the existing application.

Tatt’s shareholder meeting to consider and vote on the proposed transaction is scheduled for 18 October.

Shares in Tatts (ASX:TTS) last traded 1.7 per cent lower to $4.06.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.