Business
Gambling giant Tabcorp confirms break-up offers from multiple parties – Sydney Morning Herald
Tabcorp has confirmed it has been approached about potential deals that would split its underperforming wagering business from the lotteries business but cautioned…
Shares in the $9.1 billion firm rose 11.7 per cent to a near 12-month high of $4.58 on the news, and were last up 8.2 per cent to $4.43.
It validates our view that there is interest in the business and that market prices previously have not reflected anywhere near its true value, said Gabriel Radzyminski who heads Tabcorp investor Sandon Capital.
Investors such as Perpetual, John Wylies Tanarra Capital and Investors Mutual were agitating for change last year which led to the departure of chairwoman…
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