Activist shareholders have finally got what they want – a demerger of the lotteries business. But questions remain about whether they will be better off.
After years of turning a tin ear to shareholders, the Tabcorp board has finally responded to shareholder demands made two years ago for a demerger of its lotteries business.
But the board’s belated recognition that lotteries would be better off standing on its own has come wrapped in a package that looks expensive and unnecessary.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
