Tabcorp Extends Offer Period
30 Jul 2004
AUSTRALIA – As reported by the Australian Associated Press: "Gambling conglomerate Tabcorp Holdings Ltd has further extended the offer period of its takeover bid for NSW-based Tab Ltd to allow the last remaining Tab shareholders to accept the proposal.
"Acceptances of Tab shares have already passed 90 per cent, allowing Tabcorp to compulsorily acquire the remaining shares.
"However Tabcorp managing director Matthew Slatter has previously indicated it would be better for Tab shareholders to accept of their own accord if they so desired - giving them faster access to their payout.
"The offer period has now been stretched out by another nine days to close at 7pm (AEST) on August 13…"