UK listed Entain group have been announced as the suitor who is circling Tabcorp’s wagering and media arm which includes Sky Racing.
Ladbrokes and Neds owner Entain has announced they are in talks with Tabcorp in a potential purchase of the ASX listed companies struggling Wagering and Media arm however talks are in their early stages so no price has been mentioned.
On Tuesday Tabcorp released a statement to the ASX after the shares of the company were up over 5% after talks of the demerger and sale.
Tabcorp confirms that it has received a number of unsolicited approaches and proposals in relation to a potential transaction involving Tabcorp’s Wagering and Media business.
The proposals were expressed to be confidential, indicative, non-binding and subject to numerous conditions including due diligence, financing and various regulatory approvals.
There is no certainty that any transaction will occur.
The Tabcorp Board is assessing the proposals and Tabcorp will update the market in due course.