Tabcorp receives US$2.7bn proposal for its wagering and media arm
Apollo Global Management has sent a revised proposal to Tabcorp for its Wagering & Media arm. The revised proposal is valued at AU$3.5bn (US$2.7bn).
Apollo has tried to match Entain’s offer for Tabcorp’s Wagering & Media business and Gaming Services making the proposal reach a combined value of AU$4bn.
Tabcorp stated that it is yet to formulate an opinion on the proposal taking into account the financing, due diligence, receipt of all relevant regulatory approvals and obtaining various third-party approvals and consents.
Tabcorp added that it intends to maximize the benefits for its shareholders.