Tabcorp to Acquire BetMakers in Scheme of Arrangement
Key points
- Unanimous Board Recommendation for the Scheme
- BetMakers Shareholders to receive $0.24 cash per share
- BetMakers Shareholders can elect to receive new Tabcorp shares
- Completion targeted for Q3 FY27
- No immediate action required by shareholders
Full summary
Tabcorp Holdings Limited (ASX: TAH) has entered into a binding Scheme Implementation Deed with BetMakers Technology Group Limited (ASX: BET) for Tabcorp to acquire 100% of BetMakers through a scheme of arrangement. The BetMakers Board unanimously recommends shareholders vote in favor of the Scheme, subject to certain conditions. Shareholders will receive $0.24 cash per share or can elect to receive new Tabcorp shares, subject to a maximum aggregate scrip consideration of 25% of the total Scheme Consideration. The Scheme Consideration implies an equity value of approximately $282.9 million, representing a 45.5% premium to BetMakers' closing share price. The transaction is expected to close during Q3 FY27, subject to regulatory approvals and other customary conditions. Shareholders do not need to take any immediate action.
Guidance
Tabcorp expects to complete the acquisition of BetMakers in Q3 FY27.
Outlook
The acquisition is expected to accelerate Tabcorp's technology modernization and establish a global B2B growth engine.
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