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Tabcorp Bid Gets Backing

AUSTRALIA – As reported by the Australian Associated Press: "Victorian gaming giant Tabcorp Holdings Ltd has now ticked over 90 per cent of acceptances from Tab Ltd shareholders for its takeover bid, triggering the compulsory acquisition of Tab's remaining shares.

"It also means Tab shareholders are now guaranteed the extra 10 cents per share that Tabcorp offered to win Tab board support for its takeover bid.

"…Tabcorp stated that acceptances had reached 90.24 per cent, nearly nine weeks after the Tab board approved the raised offer.

"…The merger has turned Tabcorp - which also owns Brisbane's Jupiters casino and Sydney's Star City casino as well wagering assets - into the fifth largest gambling company in the world…"

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