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Jupiters Makes Decision by March 114 February 2003AUSTRALIA – As reported by the Australia Courier-Mail: "The Jupiters Ltd board will meet in two weeks to consider whether to merge its operation into Queensland race wagering outfit UNiTAB Ltd, or be taken over by Victorian gaming giant Tabcorp Holdings Ltd. "Jupiters' five-member board said it would assess any final takeover proposal from Tabcorp and any final merger proposal from UNiTAB on Saturday, March 1. "The board including chairman Lawrence Willett, managing director Rob Hines and director John Story – who is set to take over as Suncorp Metway Ltd chairman next month – intends to reach a decision on that day as to its recommendation to Jupiters shareholders. "…Any proposal will be subject to a number of conditions, including approval of Queensland Treasurer Terry Mackenroth and other regulatory approvals. "Hotel and casino operator Jupiters has said it was keen to get shareholders the best value – not necessarily the highest price – from its two merger suitors. "Jupiters has been holding complex parallel merger talks with Tabcorp and UNiTAB since late last year…" |