Entain doubles back with A$3.5bn Tabcorp offer

Board of Australian operator has “not yet formed a view” on revised bid as it weighs up wagering division demerger

Entain has made an improved bid of A$3.5bn (£1.9bn) for Tabcorp’s wagering and media division. The FTSE 100 operator suggested its second bid, upped by around A$500m, was compelling in terms of the value it represents for Tabcorp shareholders in both cash and the certainty of deliverability. “The proposed transaction would be in line with…

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