Tabcorp Holdings (ASX:TAH)
has received several unsolicited approaches and proposals in relation to a potential transaction involving Tabcorp’s Wagering & Media business.
These proposals valued the Wagering & Media business at around $3 billion.
The Tabcorp Board says the proposals do not adequately value Tabcorp’s Wagering & Media business.
Tabcorp has consequently decided to undertake a strategic review to assess and evaluate all structural and ownership options to maximise the value of Tabcorp’s businesses for the benefit of shareholders.
These options could include a potential sale of the Wagering & Media business to a third party or a potential demerger.
The search for a new Tabcorp Managing Director & Chief Executive Officer has been put on hold pending the outcome of the strategic review and David Attenborough will continue as Managing Director & Chief Executive Officer in the interim.
Shares in Tabcorp Holdings (ASX:TAH)
are trading 1.04 per cent lower at $4.77.