KKR made an all-cash $7.3 billion bid for Tatts Group

A group backed by private equity firm Kohlberg Kravis Roberts (KKR) and a consortium has made an all-cash $7.3 billion bid for wagering company Tatts Group in an effort to derail its agreed merger with Tabcorp.

Charlie Green, a director at Hunter Green Institutional Broking, which owns Tatts shares, spoke to Reuters about the latest offer: “It is all cash, so there is no capital gains tax roll-over relief.There are no synergies available for Tatts shareholders; the great advantage of the Tabcorp bid is that Tatts shareholders get to share in the upside”.