Tabcorp to launch strategic review after rejecting initial proposals for Wagering Media arm

Tabcorp Holdings Limited has announced it will undertake a strategic review of its businesses, having decided that the proposals received for its Wagering & Media business have undervalued the asset

Tabcorp Holdings Limited has announced it testament tackle a strategical review article of its businesses, having decided that the proposals received for its Wagering & Media business concern make undervalued the asset.

Tabcorp has previously announced it has received a keep down of unsolicited approaches and proposals to acquire its Wagering & Media arm, all of which precious the business organisation at around AU$3bn (US$2.3bn).

But having carefully considered such proposals, the Tabcorp table formed the scene that they perform non adequately time value the Wagering & Media business. The companionship has instead announced it testament assess and pass judgment all structural ownership options, inward a bidding to maximise the economic value of its businesses for the welfare of shareholders.

“These options could include a potency cut-rate sale of the Wagering & Media stage business to a third political party or a potential demerger, which could be implemented via a breakup of the Wagering & Media business sector or the Lotteries & Keno business,” a statement from Tabcorp read.

Tabcorp chairman Steven Gregg commented: “The assessment of Tabcorp’s strategic and ownership options includes, but is non special to, a demerger or sale of I or more of our businesses. Our shed light on object glass is to ensure that we full maximise the note value of Tabcorp’s play entertainment businesses for our shareholders.”

Tabcorp also proclaimed that the hunting for a unexampled managing theatre director and CEO will follow set on make until the outcome of the review, with Jacques Louis David Attenborough to go on in the role in the interim.