Dec 14 (Reuters) - Tatts Group Ltd (TTS) :
- Tatts receives indicative proposal
- It has received an unsolicited confidential, non-binding, indicative and conditional proposal from four financial investors
- Received proposal from four financial investors to acquire 100% of tatts for a combination of cash and scrip consideration
- Pacific consortium's total indicative value per tatts share of $4.40 to $5.00
- Cash consideration of $3.40 includes $3.105 cash, a $0.20 fully franked special dividend, and $0.095 fully franked interim dividend
- Proposed transaction to be financed through a combination of equity and debt
- Shareholders do not need to take any action in response to indicative proposal
- Wagering & Gaming Co to have $378m drawn debt and $139m undrawn facilities to fund remaining cms licence payments in NSW
- Tatts has not yet formed a view on how the indicative proposal compares to the proposed tabcorp merger
- Directors of Tatts continue to believe proposed Tabcorp merger is in best interests of Tatts shareholders ; unanimously recommend Tabcorp merger
- Tatts board remains fully committed to acting in best interests of, and maximising value for, Tatts shareholders
Dec 14 (Reuters) - Tatts Group Ltd (TTS) : Tatts receives...
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