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Jupiter Shares Surge, Tabcorp Falls13 January 2003AUSTRALIA – As reported by the Australia Mercury: "Gambling company Jupiters delivered its shareholders a windfall yesterday as investors welcomed news it is in merger discussions with Australia's biggest gaming group, Tabcorp Holdings. "Shares in Jupiters surged more than 13 per cent, closing 71c stronger at $6.11 ($3.57). "Jupiters, already in merger discussions with fellow Queensland-based gambling group UNiTAB, confirmed the talks with Tabcorp late on Friday. "..Tabcorp shares were dealt with more harshly, falling 28c to $10.48 (US$6.13). The Melbourne company is by far the biggest player in the three-way manoeuvring, with a market capitalisation of $3.8 billion (US$2.2 billion). "…Shaw Stockbroking head of research Scott Marshall said the fact there were competing suitors for Jupiters drove its share price higher…" |