KKR-backed consortium makes A$7.3b rival bid for Australia's Tatts
Offer threatens a takeover deal with Tabcorp, could spark a bidding war with entry of new players
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Sydney
A GROUP including private equity firm KKR and Macquarie Group Ltd on Wednesday offered up to A$7.3 billion (S$7.8 billion) to buy Australian lottery operator Tatts Group, threatening a takeover deal with Tabcorp Holdings Ltd.
Tatts said in a statement that its board had not yet formed a view on how the proposal compared with the Tabcorp offer currently valued at about A$6.03 billion, but two Tatts shareholders said they believed it was a superior deal and could spark a bidding war with the entry of additional players.
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