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Tabcorp Takes Over Tab Ltd.

AUSTRALIA – As reported by the Australia News.com: "Gambling group Tabcorp Holdings today announced it had assumed management control of Tab Ltd, a day after the Tab board resigned en masse.

"'As of today, Tabcorp has relevant interests in 57.56 per cent of the issued shares in Tab,' Tabcorp said in a statement.

"Tabcorp's offer for Tab went unconditional yesterday, and management control has now passed to Tabcorp.

"…A number of Tabcorp board members and executives have now been appointed to the Tab board, including Tabcorp chief executive Matthew Slatter.

"Michael Piggott has been appointed as chief executive of Tab in addition to his continuing responsibilities as chief executive of wagering for the Tabcorp group…"

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