The Australian Competition Tribunal publishes its reasons for granting the merger authorisation in the entertainment sector (Tabcorp / Tatts)

The Australian Competition Tribunal has now published its reasons for granting authorisation to Tabcorp Holdings Limited to acquire Tatts (see our original legal briefing here). Herbert Smith Freehills acted for Tabcorp in its successful merger authorisation application. To authorise the merger the Tribunal needed to be 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”. In applying this test, the Tribunal largely affirmed its findings in its original determination of June 2017. The matter was remitted to the Tribunal reconsideration following a judicial review application by the competition watchdog, the ACCC, and corporate bookmaker CrownBet.