|Day's range||4.17 - 4.22|
|52-week range||3.53 - 4.74|
|PE ratio (TTM)||29.44|
|Earnings date||17 Aug. 2017|
|Dividend & yield||0.19 (5.98%)|
|1y target est||4.24|
Australian gambling giants Tabcorp and Tatts were Tuesday given the green light by the competition tribunal to merge, paving the way for the creation of a betting powerhouse following months of uncertainty. The rival Australian-listed firms announced their plan to merge in October, but the proposal encountered several hurdles including questions raised by the Australian Competition and Consumer Commission about the impact on competition in Queensland state. The Australian Competition Tribunal -- which Tabcorp took the deal to in order to sidestep the watchdog -- gave it the go-ahead provided the firm sold its Queensland gaming business.
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. The Pacific Consortium -- consisting off Kohlberg Kravis Roberts, Macquarie Group, First State Superannuation Scheme and North Haven Infrastructure Partners -- made an all-cash bid of Aus$7.2 billion, a sweetened offer from last year's cash and scrip offer. Tatts had rejected the consortium's first proposal in December and said it was not superior to a tie-up with Tabcorp, which the firms have pursued for years in a bid to cut costs and chase opportunities globally.
23 December 2016 Tatts determines the Pacific Consortium's proposal is not superior to the proposed Tabcorp merger Brisbane, 23 December 2016 - Tatts Group Limited (Tatts) announces that it has concluded ...