Australia's BetMakers gains most in over 6 years after receiving Tabcorp's buyout offer
BUZZ-Australia's BetMakers gains most in over 6 years after receiving Tabcorp's buyout offer ** Shares of BetMakers Technology BET.AX rise as much as 42.4% to A$0.235, their biggest intraday pct gain since February 5, 2020
** Stock logs its highest level since February 11
** Wagering firm enters into binding deal with ASX-listed Tabcorp TAH.AX under which TAH will buy BET
** BET adds that shareholders will receive A$0.24 cash for each BET share, valuing BetMakers at around A$267 million ($188.53 million)
** BET says its board unanimously recommends shareholders vote in favour of the deal
** BetMakers shareholders may elect to receive part of their consideration in Tabcorp shares, subject to a cap of 25% of the total transaction consideration, TAH said in a statement
* YTD, BET up 21.6%, TAH down 7.6%
($1 = 1.4162 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru)
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Australia's BetMakers gains most in over 6 years after receiving Tabcorp's buyout offer
Australia's BetMakers hits 6-month high on Tabcorp's $189 million buyout offer