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Sportsbet-International All Sports takeover bid

US$31.60 m
  • Entry date - Tuesday, 16 June 2009
  • Jurisdiction - Australia
  • Practice - M&A
  • comes after hostile bid from Sportsbet’s rival Con Kafataris's Centrebet for IAS in February

  • Firm
    Gilbert + Tobin
  • Client
    Paddy Power
  • Lead Lawyers
  • Role
    Legal adviser to bidder majority shareholder
  • Firm
    Minter Ellison
  • Client
    Sportsbet
  • Lead Lawyers
  • Role
    Legal adviser to bidder
  • Firm
    Norton Gledhill
  • Client
    International All Sports
  • Lead Lawyers
  • Role
    Legal adviser to target


DEAL SUMMARY

  • Deal comes after hostile bid from Sportsbet’s rival Con Kafataris's Centrebet for IAS in February (A$20.25m)

  • IAS has recommended Sportsbet’s 60% share offer via a scheme of arrangement

  • Deal subject to regulatory and shareholder approval in September

  • Sportsbet recently sold a majority of shares to Paddy Power

  • In May IAS sold its international Canbet business to Yin Khing Investments for A$1m



Did you work on this deal? Let us know and we'll add your details. Email us here.
Copyright © 2012 THOMSON REUTERS
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