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A game proposal
Clayton Utz advised Tattersall’s and Mallesons Stephen Jaques advised UNiTAB on the companies’ proposed merger by scheme of arrangement. The merged entity would have a value in the vicinity of
Lawyers Weekly
Clayton Utz advised Tattersall’s and Mallesons Stephen Jaques advised UNiTAB on the companies’ proposed merger by scheme of arrangement.
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The merged entity would have a value in the vicinity of $4 billion.
Charles Rosedale, who led the Clayton Utz team on the proposal, said the usual challenges applied, with just three to four weeks between receiving the initial instructions and drafting the confidentiality agreement and the merger implementation agreement. UNiTAB shareholders will vote on the proposal in June, but with a better offer unlikely, the merger looks set to go ahead.
“There has been speculation that there will be ongoing consolidation of the gaming industry, and to be able to represent the key players in creating a unique entity that covers the Eastern Seaboard — it’s nice to be at the cutting edge representing the key players,” Rosedale said.
Melbourne-based Rosedale led a team that included senior associate Brendan Groves and solicitors Soruban Rajakulendran and Jessica O’Hara advising on corporate issues, with partner Andrew Walker providing specialist M&A input.
Out of the Sydney office, partner Tony Rein advised on gaming and wagering aspects, while partners Linda Evans and senior associate Lyndall Stoyles advised on ACCC/competition issues.
More formal due diligence investigations have recently commenced, which will involve Melbourne partner Penny Grau. The Clayton Utz team will also be advising on the preparation of the scheme booklet on behalf of Tattersall’s.
Rosedale and Grau led the firm’s team that advised Tattersall’s on its historic $2.17 billion IPO and listing on the ASX in July 2005.
