Tatts Rejects the Pacific Consortium’s Revised Indicative Proposal
In light of recent media commentary, we understand Pacific Consortium has walked away from the Tatts acquisition. This follows Tatts' outright rejection of the Pacific Consortium’s revised AUD 4.21 per share all-cash proposal, which left us perplexed, given its simplicity relative to Tabcorp’s more complicated cash and scrip offer. Tatts’ board concluded that the revised proposal is not superior to the proposed Tabcorp merger, and declined to provide due diligence access or engage with the Pacif...
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