Business
Ladbrokes owner increases bid to $3.5b for Tabcorp’s wagering business – Sydney Morning Herald
British wagering giant Entain has increased its bid for Tabcorp’s bookmaking and media division by $500 million.
Entain said on Tuesday that its revised all-cash bid represented compelling value and certainty for Tabcorp shareholders. Entain looks forward to engaging with the Tabcorp board on its proposal that provides superior and more certain value to Tabcorp shareholders than other alternatives, an Entain spokesman said.
The support of state racing bodies will be critical to any sale due to the licensing agreements it has with Tabcorp, which deliver the racing industry the bulk of its funding.
Entain said…
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