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TABCORP HOLDINGS LAUNCHES TAKEOVER BID FOR UNITAB.
SYDNEY, June 1 Asia Pulse - Gaming group Tabcorp Holdings Ltd (ASX:TAH) has launched a takeover bid for Unitab Ltd (ASX:UTB), rivalling Tattersall's Ltd's offer.
Tabcorp said its offer implied a value of $A14.25 ($US10.83) per Unitab share, assuming a Tabcorp share price of between .00 and $17.00.
Tabcorp has offered either between 0.84 and 0.95 Tabcorp shares per Unitab share, or $8.25 cash and between 0.35 and 0.40 Tabcorp shares per Unitab share.
Tattersall's is offering 4.33 of its shares for each UNiTAB share, under the bid announced in March. The lotteries operator will also set aside $522 million for an alternative cash offer of $14 per UNiTAB share.
Tabcorp managing director and chief executive officer Matthew Slatter said Tabcorp's offer was expected to provide substantial value to Unitab's shareholders and represented a superior alternative to Tattersall's proposal.
"Tabcorp's proven world class expertise and capability in operating wagering businesses and experience in post merger integration will create value for the shareholders of both Tabcorp and Unitab," Mr Slatter said.
"In addition, the scale and diversification of Tabcorp's business means that Tabcorp shares provide a far more attractive alternative than Tattersalls shares for Unitab shareholders.
- AUSTRALIA'S TABCORP SAYS INVESTORS FAVOUR ITS BID FOR UNITAB.
- News wire article from: AsiaPulse News July 4, 2006 700+ words
...clearly worth less than Tabcorp's offer." Tabcorp's bid for Unitab includes an all-scrip offer of Tabcorp shares...shareholders accept a lower value for their Unitab shares?" Tabcorp said Unitab shareholders were set to lose control of the...
- TABCORP BID FOR UNITAB RAISES COMPETITION CONCERNS: AUST ACCC.
- News wire article from: AsiaPulse News August 3, 2006 700+ words
...pooling services are currently Tabcorp and Unitab. The current acquirers of...Australia and the ACT. If Tabcorp acquired Unitab it would become the sole provider...33 of its shares for each Unitab share. Tabcorp has made an all-scrip offer...
- AUSTRALIA'S TABCORP LAUNCHES BID TO ACQUIRE UNITAB.
- News wire article from: AsiaPulse News June 2, 2006 700+ words
...increase," he said. A merged Tabcorp and Unitab would create the sixth largest...Slatter said. A combined Tabcorp-Unitab would own off-track betting...just a waiting game now for Unitab shareholders," he said. But Tabcorp has a huge corporate appetite...
- AUSTRALIAN WATCHDOG REJECTS TABCORP'S TAKEOVER BID FOR UNITAB.
- News wire article from: AsiaPulse News August 16, 2006 700+ words
...the proposed acquisition of Unitab by Tabcorp," ACCC chairman Graeme Samuel...of Unitab did not proceed, Tabcorp and Unitab were likely to compete for those...a "merger of equals" with Unitab before Tabcorp launched its takeover bid...
- AUSTRALIA'S JUPITER TO CONSIDER PROPOSALS FROM TABCORP, UNITAB.
- News wire article from: AsiaPulse News February 14, 2003 700+ words
...final takeover proposal from Tabcorp Holdings Ltd (ASX:TAB) and any final merger proposal from UNiTAB Ltd (ASX:UTB). The board...with Victorian gaming giant Tabcorp Holdings Ltd and race powerhouse UNiTAB Ltd since late last year...
- TABCORP MAY OUTGUN TATTERSALL'S IN UNITAB TAKEOVER BID: ANALYSTS.
- News wire article from: AsiaPulse News June 2, 2006 700+ words
...going to give them (Tabcorp) an easy run home...source said. The UNiTAB board is meeting...formal response to the Tabcorp offer, although UNiTAB chief executive Dick...the outcome of the UNiTAB board meeting, and that Tabcorp was probably in a...
- TABCORP QUERIES EXPERT REPORT ON UNITAB, TATTERSALL MERGER.
- News wire article from: AsiaPulse News June 13, 2006 700+ words
...may be drawn from it by Unitab shareholders," Tabcorp chief financial officer...important consideration for Unitab shareholders. Tabcorp questioned calculations...interested parties. "Unitab considers Tabcorp's actions inappropriate...
- AUSTRALIAN COMPETITION WATCHDOG OKS UNITAB'S TABCORP TAKEOVER.
- News wire article from: AsiaPulse News July 15, 2004 700+ words
...the green light to UNiTAB Ltd's (ASX:UTB...gaming businesses from Tabcorp Holdings Ltd. The...On 2 July 2004 Tabcorp received acceptances...shares in Tab," UniTAB said in a statement...about 30 per cent of UNiTAB's earnings and the acquisition from Tabcorp is worth about 50...
Source: HighBeam Research, TABCORP HOLDINGS LAUNCHES TAKEOVER BID FOR UNITAB.