Authorities to evaluate Tabcorp’s merger

Authorities to evaluate Tabcorp’s merger

Tabcorp has filed an application with the Australian Competition Tribunal.

Australia.- Tabcorp, the leading gaming company from Australia, has filed an application with the Australian Competition Tribunal in order to move forward with its attempt to merge with Tatts Group. The response is expected to be issued in the next three months. The measure aims at obtaining an informal clearance with the Australian Competition and Consumer Commission (ACCC).

The giant merger has been recently probed by ACCC so the last application was a surprised for the national authorities. Last week ACCC chairman Rod Sims published the organisation’s plan to investigate the merger and its effects in the Australian gaming market. After the announcement, Tabcorp decided to lodge an application with the Tribunal.

“We completely respect their right to take whatever process they want,” told Sims to the local newspaper Australia Financial Review. “Those processes are available. We are surprised they have done what they have done,” he added.

Both Tabcorp and Tatts Group are important gaming companies in the Australian market, which are focused on the racing industry. The merger will represent a US$11 billion business, therefore, the ACCC is especially interested in evaluating the process.