Unitabs Best Option: Tattersalls
Tattersall's Ltd recently issued remarks reiterating its previous statements saying its merger proposal with Unitab Ltd is still the best option for the Queensland wagering group.
Tattersall's chief executive Duncan Fischer recently said that Tattersall's proposed "merger of equals" with Unitab would pave the way for a strong second force in the wagering sector and offer a superior outcome for the industry and consumers.
Lotteries and poker machines operator Tattersall's made the declaration anew after the Australian Competition and Consumer Commission (ACCC) said that a $1.9 billion takeover bid from Tabcorp Holdings Ltd, Tattersall's rival on Unitab bid, raised "potentially significant competition concerns" for the industry.
The ACCC further said it would solicit opinions from the gaming industry before issuing its final decision on the proposed takeover.
For its part, Tabcorp has submitted to the ACCC its draft undertakings in a bid to respond to ACCC's competition concerns.
Meanwhile, Tattersall's has not made any alterations in its merger proposal for Unitab even as Unitab shareholders are set to deliberate on the proposal in a few days' time. Asked why his firm was not making efforts at making their proposal even more palatable, Fischer said, "We still are the recommended option by the Unitab board of directors.