Talarius shareholders approve AUD 353m takeover

Shareholders of British gaming company Talarius have approved a STG 142.3 million (AUD 353.2 million) revised takeover offer from a joint venture comprising Tattersall’s and Macquarie Bank.

The Victorian-based lotteries and poker machines operator and Australia’s largest investment bank formed the equal joint venture, called European Gaming, last November to make the bid and pursue other opportunities in the European gaming sector.

European Gaming launched a STG 137.2 million (AUD 340.53 million) bid for Talarius, the largest adult gaming centre (AGC) in the United Kingdom, in late November.

On December 29, they lifted the offer by 10 pence a Talarius share to 280 pence a share, raising the value to STG 142.3 million (AUD 353.19 million).

Tattersall’s already owns 10.5 per cent of Talarius shares through its subsidiary, George Adam Holdings.

Pending court approval later this month, the scheme of arrangement related to the takeover is expected to be complete on February 1.

European Gaming was formed to bid for Talarius and is indirectly and equally owned by Tattersalls and Macquarie.

Both companies said in November that European Gaming would be funded through a combination of debt and equity, and would pursue opportunities in the European gaming sector, with the UK AGC market identified as an initial place of interest.

Talarius said in a statement today that 87.95 per cent of shareholders present, in person or by proxy, at an extraordinary general meeting last night voted in favour of the takeover.