Tabcorp (ASX:TAH) has settled CrownBet’s opposition to the $11 billion proposed combination of Tabcorp (ASX:TAH) with Tatts Group (ASX:TTS).
CrownBet has dropped its legal threat with Tabcorp after a Supreme Court hearing in New South Wales, and has agreed not to continue with further court proceedings in relation to the merger.
CrownBet has agreed to not apply for the judicial review of the Tribunal’s decision last week to approve the merger, and has agreed not to take any action which would impede the implementation of the transaction.
Tabcorp has agreed a commercial arrangement with CrownBet to supply a digital stream of SKY 1 and SKY 2 to CrownBet’s Australian wagering customers on mobile and computer devices.
Shares in Tabcorp (ASX:TAH) are trading 1.03 per cent higher to $4.90.