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Apollo Global Management increases bid for Tabcorp business

6th May 2021 10:00 am GMT
Tabcorp

Alternative investment firm Apollo Global Management has matched Entain’s offer to acquire Tabcorp’s Wagering and Media business.

Apollo has submitted a revised indicative proposal which values Tabcorp’s wagering and media business at AUD$3.5bn (US$2.7bn), matching the improved offer submitted last month by London-listed gaming operator Entain.

Tabcorp launched a strategic review in March to assess all structural and ownership options for the company after rejecting a number of unsolicited acquisition proposals for its wagering and media business [...]

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