Tabcorp Receive Revised Bid from Apollo Global Management
Tabcorp Holdings Limited (Tabcorp) announces that it has received a revised unsolicited, nonbinding and indicative proposal from Apollo Management on behalf of affiliated investment funds (Apollo). The revised proposal relates to a possible acquisition by Apollo of Tabcorp’s Wagering & Media business and Gaming Services business for a combined value of AUS$4 bn (£2.24 bn/US$3.10 bn/€2.57 bn) or alternatively, Tabcorp’s Wagering & Media business for a value of A$3.5 billion.
The revised proposal is subject to numerous conditions including due diligence, arranging financing, receipt of all relevant regulatory approvals and obtaining various third party approvals and consents.
The Tabcorp Board has not yet formed a view on the merits of the revised proposal and will assess it in the context of the previously announced strategic review.