Competition tribunal extends review period of Tabcorp-Tatts merger

Tabcorp will have to wait for three more months to find out if its plan to form an Australian betting behemoth with rival operator Tatts Group will be allowed to go ahead.

The Australian Competition Tribunal has been scheduled to make a ruling on Tabcorp’s A$6.4 billion (US$4.82 billion) offer to buy Tatts Group by June 13, but Tabcorp said the competition tribunal pushed out the deadline to September 10.

The tribunal can only extend the deliberation period once, and has opted for the maximum three-month delay.

“[The tribunal] anticipates that it may need additional time to consult with parties to ensure that its final determination and reasons comply with the confidentiality regime established by the tribunal,” Tabcorp said in a statement.