The Next Afterpay - Perhaps its Bigger!!!!, page-43

https://www.theaustralian.com.au/business/dataroom/matthew-tripp-said-to-be-close-to-announcing-wagering-merger-plan/news-story/0201e03055c994e6917c050c45583141

Matthew Tripp said to be close to announcing wagering merger plan

Talk is once again mounting that Matthew Tripp is moving closer to lobbing a formal offer for Tabcorp.There is further talk in the market about a proposed merger between Tabcorp and Betmakers mooted by Mr Tripp.Mr Tripp owns a sizable stake in Betmakers, with about 92 million shares including his performance rights.

A merger deal could see his entire interest in the company worth about $192m based on Friday’s closing share price for Betmakers of $1.50.Suggestions are that the former Sportsbet and EasyBet boss has been carrying out soft soundings to the market about a nil premium merger since The Australian broke the news in March.It comes after Ladbrokes owner Entain made a $3.5bn proposal to buy Tabcorp’s Wagering and Media unit for $3.5bn and Apollo Global Management put forward a $4bn offer for all of the company excluding the lucrative lotteries arm.Tabcorp’s board is currently carrying out a strategic review with help from adviser UBS, and the outcome is expected to become known around the end of June.One option on the table is a demerger of the Wagering and Media unit.Parties are circling Tabcorp after discontent has been building amongst shareholders over the company’s performance since Tabcorp led an $11bn merger with Tatts in 2017.Before the merger, the so-called ‘Pacific Consortium’ including Kohlberg Kravis Roberts, Macquarie Group, Aware Super and Morgan Stanley Infrastructure Partners made a $6bn bid for Tatts.