KKR-backed consortium makes $4.7 billion cash offer for Australia’s Tatts

April 19, 2017 By Jamie Freed SYDNEY (Reuters) – Australian lottery operator Tatts Group Ltd on Wednesday said it had received a A$6.15 billion ($4.65 billion) cash takeover proposal from a consortium backed by U.S. private equity firm KKR & Co , threatening an agreed merger with Tabcorp Holdings Ltd . The bid values Tatts at A$4.21 a share, the takeover target said. Tatts said its board was assessing how the consortium proposal compared to an offer from betting group Tabcorp that would allow the pair to form an Australian…

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