China – Australia’s Tabcorp receives revised proposal from Apollo Management
May 6 (Reuters) – Australia’s Tabcorp Holdings Ltd TAH.AX on Thursday said it received a revised proposal from Apollo Management APO.N on behalf of affiliated investment funds for the acquisition of its wagering and media business for A$3.5 billion ($2.71 billion).
Tabcorp’s wagering and media business has been struggling from closed betting shops and cancelled sporting events due to COVID-19 restrictions.
($1 = 1.2905 Australian dollars)
(Reporting by Nikhil Subba in Bengaluru)
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