The Australian Competition Authority gives undertaking the green light to proceed with its $11 bn merger after the granting authorisation to acquire shares as set out in their merger implementation deed (Tabcorp / Tatts)

On Tuesday the Australian Competition Tribunal gave Tabcorp Holdings Limited (Tabcorp), represented by Herbert Smith Freehills, the green light to proceed with its $11 billion merger with Tatts after the granting authorisation to acquire shares in Tatts Group Limited as set out in their Merger Implementation Deed dated 18 October 2016. Herbert Smith Freehills acts for Tabcorp in successful authorisation application to acquire Tatts. The Tribunal published its reasons for the decision this afternoon. To authorise the merger the Tribunal needed to be unless satisfied that, in all of the circumstances, the proposed acquisition would result, or be likely to result, in “such a benefit to the public that the acquisition should be allowed to occur”. The Tribunal affirmed that the benefits to

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Authors

  • Herbert Smith Freehills (Sydney)
  • Herbert Smith Freehills (Sydney)

Quotation

Patrick Gay, Grant Marjoribanks, The Australian Competition Authority gives undertaking the green light to proceed with its $11 bn merger after the granting authorisation to acquire shares as set out in their merger implementation deed (Tabcorp / Tatts), 20 June 2017, e-Competitions June 2017, Art. N° 93611

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