A shareholder vote on the AU$11 billion (US$8.7 billion) merger of Australia’s two biggest gambling companies, Tabcorp and Tatts, will be unable to proceed according to plan.
Tatts shareholders were due to vote on the proposed tie-up on October 18, but that timeframe appeared to be shot down on Tuesday, September 26, when the national competition tribunal ordered further hearings starting on October 24.
The tribunal is reconsidering the merger after the competition watchdog, the Australian Competition and Consumer Commission, won a Federal Court appeal against an initial approval.
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