Despite a recent setback in Australian federal court, Tabcorp officials remain confident the proposed merger with Tatts Group can be comp0leted by November.
The court sent the proposed A$11 billion merger back to Australian Competition Tribunal for a new review. The tribunal had approved the merge, but an appeal by the Australian Competition & Consumer Commission was upheld by the court.
In an ASX market note, Tabcorp said it still plans to complete the merger by November as it previously announced and said that if the tribunal finished its new review by the end of September a scheduled vote by Tatts Group shareholders should happen October 18.
Tabcorp also issued a statement saying it had “obtained all necessary pre-implementation approvals of the relevant State and Territory gambling regulatory authorities.”
