SYDNEY, April 28 (Reuters) - Australian lottery operator Tatts Group (TTS) on Friday said a A$6.15 billion cash takeover offer from a consortium backed by U.S. private equity giant KKR & Co KKR.N was not superior to a cash-and-scrip bid from Tabcorp Holdings (TAH) .
"In these circumstances, Tatts is unable to provide due diligence or engage with the Pacific Consortium," the company said in a statement.
The Tabcorp bid valued Tatts at A$4.249 at the close of trade on Thursday, compared with the A$4.21 price of the offer from Pacific Consortium.
Pacific Consortium also includes Macquarie Group Ltd (MQG) , Morgan Stanley Infrastructure and First State Superannuation Scheme. Tatts in December rejected an initial proposal from the group.
Tatts and Tabcorp in October said their agreed merger would offer A$130 million a year in synergies.
News: TAH Australia's Tatts says KKR-backed takeover offer inferior to Tabcorp bid
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Last
72.5¢ |
Change
-0.015(2.03%) |
Mkt cap ! $1.657B | |||
| Open | High | Low | Value | Volume |
| 74.0¢ | 74.5¢ | 72.5¢ | $1.735M | 2.379M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 91691 | 72.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 72.5¢ | 31639 | 1 |
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| Last trade - 16.12pm 08/08/2025 (20 minute delay) ? |
| TAH (ASX) Chart |