Tabcorp Withdraws From Fight For Unitab
Thursday, 17 August 2006: The Tabcorp Board met today to consider the ACCC decision and review its options for the takeover.
Tabcorp announced that the directors had made a unanimous decision not to proceed with the takeover.
Tabcorp CEO Matthew Slatter said his company disagreed with the decision of the ACCC but will not challenge the ruling.
Slatter said Tabcorp remained in a strong position to pursue new opportunities in international and domestic markets.
Tabcorp's offer to Unitab shareholders will not be extended beyond the scheduled closing date of August 30.
Tabcorp will not exercise its right to vote the shares of those UNiTAB shareholders who have accepted Tabcorp's offer at the UNiTAB scheme meeting on August 21.
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