alnby, I am unsure of why this potential counter-bid by...

alnby, I am unsure of why this potential counter-bid by Ladbrokes Coral, William Hill, Bwin or Paddy Power has not been reflected in the current TTS SP, strange market undervaluation IMHO.

Tatts Group shares jumped 3.6% and Tabcorp shared edged up 0.4% per cent after the Australian Competition Tribunal (ACT) gave the their $11 billion merger the green light.
The ACTl yesterday said it was approving the proposed merger between the gaming rivals and would publish its full reasoning tomorrow (Thursday). It was a strong rejection of the opposition to the deal by the competition and consumer regulator, the ACCC.
The Tribunal on Tuesday said public detriments identified by the ACCC were unlikely or not of significance.
Tatts closed at $4.17 on Monday night and Tabcorp was on $4.63.
The only condition imposed by the tribunal is that Tabcorp must press on with the already agreed sale of its Queensland gaming machine monitoring business. That deal was arranged in April in response to concerns from the Australian Competition and Consumer Commission and Federal Group from Tasmania says it will buy Odyssey once the merger goes ahead.
One of the main objections to the tie-up from the ACCC and some parts of the racing industry (such as Victoria) has centred on Tabcorp’s racing broadcast business, Sky Racing, which competitors fear could help the merged company’s market power in dealings with pubs and clubs. But Justice John Middleton, of the Australian Competition Tribunal, found the merger would be substantially beneficial for the industry.
"The tribunal is satisfied that the proposed merger is likely to result in substantial public benefits," he said, "and the public detriments identified by the [Australian Competition and Consumer Commission] and the interveners are unlikely to either arise or are not of significance."
Except for Racing Victoria, every racing state in Australia supported the merger.
They think the merger may lead to a national TAB and turn Australia into one of the most profitable jurisdictions in the world, outside of Hong Kong. helping get that view was the belief that the merger will see an extra $50 million a year for the racing industry.
But the real reason for the merger is to give Tabcorp and Tatts the size and scale to fight the online gambling giants such as Paddy Power (Sportsbet), William Hill, Ladbrokes and bet365.
These companies are registered in the ultra low tax (for them) Northern Territory.
In a later statement, Tabcorp chair, Paula Dwyer said theTribunal's approval of the merger on Tuesday was an important step towards creating a "world class, diversified gambling entertainment group."”We look forward to continuing to work with Tatts to successfully complete the transaction and are working towards implementation in August 2017,” she said.
The combined company is forecast to generate annual revenue of more than $5 billion and dominate Australia's tote betting market by bringing together TAB and the Tatts-owned UniTAB.
According to the statement, Tabcorp said it still expects the merger to deliver at least $130 million in earnings annually from synergies and business improvements, which will be realised in the first full year after completion of the integration.
"The combination will bring together two great Australian businesses, well positioned to invest, innovate and compete in a global gambling entertainment marketplace," Ms Dwyer added.