KKR-backed consortium makes $4.7 billion cash offer for Australia's Tatts

A consortium backed by U.S. private equity giant KKR & Co (KKR.N) offered A$6.15 billion (3.62 billion pounds) cash for Australian lottery operator Tatts Group Ltd (TTS.AX), threatening an agreed merger with Tabcorp Holdings Ltd (TAH.AX), two sources familiar with the situation said on Wednesday.
The sources, who were not authorised to speak publicly, told Reuters a letter offering A$4.21 a share had been sent to the Tatts board on Tuesday evening.
Tatts in October agreed to accept a cash-and-scrip proposal from betting group Tabcorp to form an Australian gambling powerhouse.
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19 April 2017 in Business, Views: 35
Source: Reuters
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