After a year of negotiations and due diligence, the Australian Competition Tribunal (ACT) has approved the $11 billion merger of TABCORP and Tatts Group.
Despite an objection by the ACCC, the ACT granted the merger and will announce the full details of their decision on November 22nd.
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Tatts Group shareholders will vote on the merger on November 30th, which is expected to just be a formality.
Both shares have been placed in a trading halt this morning.
After trading as low as $3.90 on August 14th, shares of TAH have been moving steadily higher as the prospects of the merger approval have increased. The synergies of the merger could see TAH shares rally into the $5.60 area.
