A consortium of private equity investors has returned with a revised proposal to acquire Tatts Group in a second attempt to derail the operator's planned merger with Tabcorp Holdings.

The Pacific Consortium, which includes private equity firms Kohlberg Kravis Roberts & Co. and Macquarie Corporate Holdings, has put forward a non-binding, indicative and conditional proposal to acquire 100 per cent of Tatts for AUD$4.21 per share in cash. This values Tatts at approximately $7.2bn on an enterprise value basis.

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