Tabcorp Gets Another Bid With $3 Billion Betting Proposal (1)

BetMakers Technology Group Ltd. offered to buy Tabcorp Holdings Ltd.’s wagering and media unit in a deal worth A$4 billion ($3 billion), creating a crowd of bidders for the Australian betting business.

The offer comprises A$1 billion in cash and A$3 billion in BetMakers shares. Tabcorp shareholders would end up owning about 65% of the combined BetMakers and Tabcorp wagering and media business, Newcastle, Australia-based BetMakers said in a statement Friday. Tabcorp said it will assess the proposal.

A throng of suitors are surrounding Tabcorp as it carries out a strategic review. Apollo Global Management Inc. this month offered A$4 ...