The Tabcorp Holdings Ltd (ASX: TAH) share price is up more than 2% at the time of writing, trading at $1.067.
The gain brings Tabcorp's shares to a 12% gain this year to date, up 10% this past month, as illustrated below.
Potential bidders? Maybe, maybe not
Reports have now surfaced Tabcorp shares might be in the acquisition limelight again, around one month after the company spun out its The Lottery Corporation business.
It seems the company's got its sights set firmly on the future. It's understood that potential bidders may be interested in a Tabcorp buyout, according to The Australian.
The newspaper reports:
[P]otential bidders have begun planning how to overcome regulatory issues should they lob an offer for Tabcorp – likely between $2.5 billion and $3 billion – and identifying how they believe Tabcorp's operations could be improved and who would be in charge.
Tabcorp reports its results in August. Should they disappoint and its share price fall, expect potential bidders to make a move.
Speaking to The Australian, CEO Adam Rytenskild said that he wanted his company to compete with corporate bookmakers.
"I want us to have more heart and more courage right across everything we do. I want us to be different as a company," he said.
"We are loosening the handcuffs a bit and we want our culture to be about transforming and changing."
Tabcorp share price snapshot
In the last 12 months, Tabcorp shares have clipped a 7% gain.
The company has a current market capitalisation of $2.37 billion.
