Justice Michael Sifris in the Victorian Supreme Court has approved the $11 billion merger of gaming group Tatts Group Ltd and Tabcorp Holdings. The orders were signed in Court today.
The Court received submissions from Tatts showing 10,698 of the company’s shareholders attended a meeting on 12 December, 2017, either in person or by proxy. Those shareholders held about 58.44 per cent of all Tatts shares on issue, and more than 95 per cent of those 10,698 shareholders voted in favour of the merger.
Justice Sifris said considering other matters that had arisen during the course of this proposed merger, including the long time frame, and considering the deadline set between the parties for formalising the merger, he was content to make the orders for approval today.
The judge also said that in light of the high level of public interest in the merger and the various competition issues that had required legal resolution, he would deliver his written reasons in the week beginning 18 December 2017.