Australia’s Tatts Group has today (Friday) turned down a takeover offer worth A$7.3 billion (€5 billion/US$5.3 billion) from a consortium led by Macquarie Group, in favour of proceeding with a proposed merger with rival Tabcorp.
A consortium featuring Morgan Stanley, Macquaire Group and KKR & Co. has put forward a proposed offer of up to A$7.3 billion (€5.1 billion/US$5.5 billion) for Australian gambling company Tatts Group.