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G+T and Herbert Smith Freehills advise Tabcorp on merger with Tattersalls
Gilbert + Tobin and Herbert Smith Freehills jointly advise Tabcorp on the competition law strategy surrounding its $11.3 billion merger with Tattersalls (Tatts).
The transaction required competition approval, which initially involved an application for informal clearance from the ACCC and ultimately progressed by way of an authorisation in the Australian Competition Tribunal (the Tribunal).
The authorisation decision was strongly supportive of the position of Tabcorp, finding both that the merger was likely to result in substantial public benefits, and that any public detriments identified by the ACCC and others were unlikely to arise, or were not of significance.
Gilbert + Tobin as co-competition advisors with Herbert Smith Freehills formulated a competition clearance strategy in a complex factual environment involving a range of interested parties and stakeholders, and two separate clearance processes. Gilbert + Tobin’s specialist experience in complex competition law issues and litigation helped to formulate a strategy that gave Tabcorp strong prospects of success in obtaining clearance.
Gilbert + Tobin was privileged to be appointed alongside Herbert Smith Freehills to jointly assist in this transaction, which built upon our specific experience in the merger authorisation process in the Tribunal, in Sea Swift’s acquisition of Toll’s Marine freight assets.
Competition + Regulation partners Gina Cass-Gottlieb, Luke Woodward and Simon Muys led the Gilbert + Tobin team, supported by Jeremy Jose, Laura Tompkins, Genevieve Rahman, Melissa Graham, Sophie Millett, Mat Argy and James Campisi.