An initial approach worth AU$3bn was batted back by the company in February, but this morning
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In a statement, it said: “Entain believes that the revised proposal is compelling both in terms of the value it represents for
“The proposed transaction would be in-line with Entain’s current M&A strategy, and presents an opportunity to acquire an attractive business, which when combined with Entain’s existing Australian business, would create a leading, integrated multi-channel and multi-brand wagering company.”
If successful, the bid would be the latest in a string of a acquisitions the Ladbrokes owner has carried out in recent months.
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It recently picked up Swedish bookmaker
In response to the offer,
“As stated, the objective of the strategic review is to assess and evaluate all structural and ownership options to maximise the value of Tabcorp’s businesses for the benefit of shareholders.”
“These options may include a potential sale of the Wagering & Media business to a third party or a potential demerger of either the Wagering & Media business or the Lotteries & Keno business.“
Read more: Shop closures weigh down Ladbrokes owner
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