The decision on whether the proposed merger between Australia-listed Tabcorp and Tatts Group will be allowed to go ahead has been extended by three months, local media reports.
The Australian Competition Tribunal was scheduled to make a ruling by Tuesday next week, but the deadline has been extended to September 10. The ACT said it needed additional time to consult with parties, and needed additional time to finalize conditions prior to the formal granting of the authorization.
The decision however, may still be delivered before the deadline.
“Tabcorp and Tatts are progressing the other government and regulatory approvals required for the transaction and working towards implementing the Transaction in third quarter 2017,” said Tabcorp in an Australian Stock Exchange filing on Thursday.