TAH +4.17%: shares in the betting company were higher today on a revised bid for the wagering & media unit. The UK listed Entain increased their bid by $500m to $3.5b, up from other offers which Tabcorp said they had received in the range of $3b. The new offer comes as little surprise – Tabcorp sound keen sellers but it appears a few hats are in the ring. Entain is a big name in global betting and can certainly absorb the bid amount if needed. Tabcorp are keeping them at arm’s length for now in the hopes holding off brings other serious offers out of the woodwork.
MM is bullish TAH but prefers PBH in the better space – although a much higher risk play
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