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Gambling giant Tabcorp confirms break-up offers from multiple parties – Sydney Morning Herald

Tabcorp has confirmed it has been approached about potential deals that would split its underperforming wagering business from the lotteries business but cautioned…

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Shares in the $9.1 billion firm rose 11.7 per cent to a near 12-month high of $4.58 on the news, and closed up 8.78 per cent to $4.46.
Investors such as Perpetual, John Wylies Tanarra Capital and Investors Mutual were agitating for change last year which led to the departure of chairwoman Paula Dwyer in December. Tabcorps chief executive David Attenborough is due to follow her out the door this year.
Tabcorp investor Sandon Capital has gone further by advocating for a split of the business to deliver…

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