Sentences with phrase «tatts shareholders»
«Your board believes that the value accretion for Tatts shareholders from this transaction is a fair reflection of the strategic value of our businesses.»
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Tatts shareholders will vote on the Tabcorp merger on November 30, but activist investor Sandon Capital say they should reject the merger.
The other hurdle is the Tatts shareholder vote on the deal on November 30.
Not exact matches
Tatts will have to delay its shareholder vote on its $ 11 billion merger proposal with Tabcorp because of fresh hearings into the deal.
While activist shareholder Sandon Capital has been a voluble opponent of the deal, arguing Tabcorp is getting a very good asset in the Tatts lotteries business, there are enough big shareholders who own stock in both companies that are in favour of the transaction to make a favourable vote likely.
A shareholder vote on the $ 11 billion merger between wagering giant Tabcorp and Tatts Group has been delayed until October.
When questioned by Tatts» shareholder Charlie Green of Hunter Green Institutional Broking whether the falling value and performance of both Tabcorp and Tatts in recent months meant the deal should be revisited, Mr Cooke said it «would be premature to form conclusions» before legal action brought the Australian Competition and Consumer Commission in the Federal Court and regulatory approvals were finalised.
Tabcorp will present Tatts Group shareholders with a scrip and cash takeover bid on Wednesday morning, proposing to take full control of the wagering and lotteries company.
But after receiving a briefing on the company's strong results at the company's annual general meeting in Brisbane, some shareholders at the Tatts questioned whether the Queensland - based company needed to merge with Tabcorp.
Tabcorp chairman Paula Dwyer has dismissed concerns shareholders do not get a vote on the $ 11.3 billion merger with Tatts.
Tatts said it would pay shareholders a fully franked special dividend of 12 cents per share immediately prior to the implementation of the scheme.