Entain offer for Tabcorp assets still too low, demerger likely: J.P. Morgan

The U.K.’s Entain Group has upped its offer for Tabcorp’s wagering & media unit by $0.5 billion to $3.5 billion, which analysts at J.P. Morgan estimate is still too low.

The firm said it still believes a demerger of the business is the most likely way forward and Entain’s bid will face significant regulatory hurdles. It values the business at $3.68 billion, which is 5 percent higher than the increased offer.