SYDNEY, April 19 A consortium backed by U.S.
private equity giant KKR & Co offered A$6.15 billion
($4.65 billion) cash for Australian lottery operator Tatts Group
Ltd, threatening an agreed merger with Tabcorp Holdings
Ltd, two sources familiar with the situation said on
The sources, who were not authorised to speak publicly, told
Reuters a letter offering A$4.21 a share had been sent to the
Tatts board on Tuesday evening.
Tatts in October agreed to accept a cash-and-scrip proposal
from betting group Tabcorp to form an Australian gambling
Tatts shares closed at A$4.35 a share on Tuesday.
($1 = 1.3226 Australian dollars)
(Reporting by Jamie Freed; Editing by Andrew Hay)