ASX 200 up 1.1%: Tabcorp receives $4bn offer, KKR wants Link’s PEXA business

Link Administration Holdings Ltd (ASX:LNK) and Tabcorp Holdings Limited (ASX:TAH) shares are among the movers and shakers on the ASX 200 today…
The post ASX 200 up 1.1%: Tabcorp receives $4bn offer, KKR wants Link’s PEXA business appeared first on The Motley Fool Australia. –

At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week a strong note. The benchmark index is currently up 1.1% to 7,174.2 points.

Here’s what is happening on the market today:

BetMakers makes Tabcorp a $4 billion offer

The Tabcorp Holdings Limited (ASX: TAH) share price is pushing higher today after BetMakers Technology Group Ltd (ASX: BET) made a $4 billion offer to acquire its Wagering and Media businesses. The offer comprises $1 billion in cash and $3 billion in BetMakers shares. BetMakers believes the proposal would bring together two highly complementary businesses to create a competitive global wagering and technology platform with scalable operations across both B2B and B2C markets.

Latitude update

The Latitude Group Holdings Ltd (ASX: LFS) share price is storming higher after the release of a market update. The instalments and lending company revealed that its loan volumes for the six months ending 30 June 2021 are expected to come in at $3.7 billion. This will be an increase of 7% on the prior corresponding period. This is expected to lead to a first half net profit after tax of between $115 million and $120 million.

Link receives offer for PEXA

The Link Administration Holdings Ltd (ASX: LNK) share price is on course to end the week on a positive note. Investors have been buying the administration services company’s shares after it revealed that private equity firm KKR has tabled an offer that values PEXA at $3 billion on a 100% basis. Link owns 44.18% of the property settlement business. The Link Board is considering the proposal.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the South32 Ltd (ASX: S32) share price with a 6% gain. A number of resources shares are recording strong gains today. The worst performer has been the CSR Limited (ASX: CSR) share price with a 5% decline. The majority of this decline is due to the building materials company’s shares trading ex-dividend this morning.

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More reading

Why the Latitude (ASX:LFS) share price is rising today
BetMakers (ASX:BET) share price sinks on Tabcorp takeover proposal
Link (ASX:LNK) share price on watch after receiving PEXA offer
5 things to watch on the ASX 200 on Friday

The Pepper Money (ASX:PPM) share price sinks below listing price

The post ASX 200 up 1.1%: Tabcorp receives $4bn offer, KKR wants Link’s PEXA business appeared first on The Motley Fool Australia.

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