Being offered 7.2 billion dollars sounds like a no brainer that you would take the offer but Tatts who is an Australian gambling giant already rejected a private US based companies bid to buy it earlier this year. Now with the latest offer, talks include a possible merger. Now, what does that mean: most likely for the first few months there will be bumps in the road as these two giants in the gambling world try to merge but for the stock holders it means an almost instant boost in the companies worth. A final decision will be made on or before May 4th, 2017.
- The Pacific Consortium comprising off Kohlberg Kravis Roberts, Macquarie Group, First State Superannuation Scheme and North Haven Infrastructure Partners.
- Tatts had rejected the consortium’s first proposition in December and said it was not better than a tie-up with Tabcorp.
- In October, they reported a merger to make an Aus$8.6 billion (US$6.5 billion) powerhouse taking wagers on stallion hustling and brandishes occasions crosswise over Australia.
“Australian gaming and lottery giant Tatts said on Wednesday it had received a revised multi-billion-dollar takeover offer from a consortium led by US private equity firm KKR, challenging a planned merger with rival Tabcorp.”