April 19 (Reuters) - Tatts Group Ltd (TTS)
- Pacific consortium revised indicative proposal
- revised indicative proposal values tatts at approximately $7.2 billion on an enterprise value basis.
- received a revised, non- binding, indicative and conditional proposal from pacific consortium to acquire 100% of tatts for $4.21 cash per tatts share
- Tatts' directors continue to believe proposed Tabcorp merger is in best interests of Tatts shareholders and unanimously recommend proposed Tabcorp merger
- terms include tatts shareholders to receive 100% cash consideration of $4.21 per tatts share
- cash consideration may include a fully franked special dividend of up to $0.25 per tatts share
- proposed transaction to be financed through a combination of equity and debt
- pacific consortium has indicative equity commitments of $4.6 billion subject to conditions
- expects approvals will be required from various industry bodies, state and territory governments and wagering, monitoring and lotteries
