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Australia : ACCC announces it does not intend to challenge the Tribunal's authorisation Tabcorp and Tatts waive competition condition precedent.

ACCC does not intend to challenge the Tribunal's authorisation

Tabcorp Holdings Limited (Tabcorp) notes today's announcement from the Australian Competition and Consumer Commission (ACCC) that it does not intend to seek judicial review of the decision of the Australian Competition Tribunal (Tribunal) to authorise the proposed combination (Transaction) of Tabcorp and Tatts Group Limited (Tatts).

Waiver of competition approval condition precedent in the merger implementation deed

Tabcorp and Tatts have now waived the competition condition precedent in the merger implementation deed. Other than Tatts shareholder consideration of the proposed combination at a meeting scheduled for the 12th of December and further consideration by the Supreme Court of Victoria at a hearing scheduled for the 13th of December, there are no other conditions precedent to the implementation of the Transaction.

Implementation of the Transaction is expected to take place on 22nd December 2017.

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Publication:Mena Report
Date:Dec 4, 2017
Words:155
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