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Australia's Tabcorp says competition watchdog extends review period
June 8, 2017 / 12:20 AM / 2 months ago

Australia's Tabcorp says competition watchdog extends review period

June 8 (Reuters) - Tabcorp Holdings Ltd, Australia's biggest horse racing and sports betting company, said on Thursday the Australian Competition Tribunal has extended its deadline to rule on Tabcorp's A$6.4 billion ($4.82 billion) deal to buy rival Tatts Group Ltd.

The Australian competition watchdog pushed out the deadline to Sept. 10, from June 13 previously, Tabcorp said in a statement.

Tabcorp agreed in October to acquire Tatts in an effort to fend off a growing challenge from overseas online rivals. ($1 = 1.3264 Australian dollars) (Reporting by Sandhya Sampath in Bengaluru; Editing by Jane Wardell and Stephen Coates)

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