27th Apr 2021 05:46
(Alliance News) - Entain PLC, the FTSE 100-listed company behind Ladbrokes, Coral and Partypoker, has made an improved offer of GBP1.95 billion for the wagering and media division of Australian firm Tabcorp.
Tabcorp knocked back offers in the region of GBP1.68 billion for the division earlier this year, with the board saying they did not adequately value the business.
In an announcement to the Australian Stock Exchange, the company said a revised offer had been made, and the board has not yet formed a view on the merits of the proposal.
Entain, which also runs Bwin and Sportingbet, said in February that it was in "early stage" discussions with Tabcorp Holdings.
The company said: "This would present an opportunity to acquire an attractive business which, if combined with Entain's existing Australian business, would create a leading, integrated multi-channel and multi-brand wagering company."
By Alexander Britton, PA
source: PA
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