TAH Chart, page-125

I think that if the merger did not proceed then it would be a major negative for both TAH and TTS as they are both struggling to compete with the likes of Ladbrokes, Lottoland etc etc on their own. As a merged entity they should be able to compete well.

As you would know the merger deal involves Tatts shareholders getting .8 Tabcorp shares for each TTS share held plus cash of 42.5cents per Tatts share. On the basis on the current share prices that is just about a direct swap. The advantage going forward is that the now (after the merger) much bigger Tabcorp will have the potential to not only grow the share price, but to provide significant dividend. In summary, it is a great win for both TTS and TAH shareholders.