Tabcorp Holdings Limited

BetMakers Technology Group Limited (ASX:BET) (T07.F) has today received notification that Tabcorp Holdings Limited (ASX:TAB) has decided it will pursue a demerger strategy for its business.

BetMakers Technology Group Limited (ASX:BET) (FRA:T07) today announces that it has submitted a non-binding, indicative proposal to acquire Tabcorp Holdings Limited's (ASX:TAH) Wagering and Media business for an enterprise value of A$4.0 billion.

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Australian Market Report of December 13, 2010 includes: Altura Mining Limited (ASX:AJM) has received approval for the upcoming drill program at Pilgangoora Lithium Project in WA; Orion Metals Limited (ASX:ORM) has received highly encouraging gold results at Killi Killi Hills Gold-Rare Earth Element Project; Pharmaxis Limited (ASX:PXS) announces that Bronchitol is recommended for approval By Australian Advisory Committee; Tabcorp Holdings Limited (ASX:TAH) proposed A$625 million expansion of its casinos in Queensland.

Wall Street rally ended on Thursday as the market was suffering from "rally fatigue". The better-than-expected US jobless claims and corporate news failed to move investors who had been bombarded by positive news in recent sessions. A surge in oil stockpiles also raised concerns over the US recovery.

Wall Street hit new highs for the year over optimism of the corporate earnings. The rise was led by Caterpillar as a broker said the company was among the best-positioned companies to benefit from improving global growth and spending on construction, infrastructure and commodities.

US Stocks declined on Wednesday on a weak sales outlook from P & G and concerns over the service and labour sectors. Economic data showed an unexpected fall in activity in the service sector and larger-than-expected losses of private sector jobs.

US stocks closed slightly higher on a strong sign of recovery in US housing sector. The Commerce Department said on Monday that sales of new homes rose by 11% in June. Earning news dominated the market in recent trading sessions with most of the reports beating the expectation.

Yesterday the Australian shares ended modestly higher despite a strong lead overseas. The market in late trading gave up some of its early gains as investors started to pocket their profits in recent rallies. The benchmark S&P/ASX200 index was up 0.8%, or 29.7 points, at 3580, while the broader All Ordinaries index rose 1%, or 34.2 points, at 3517.3. Today resource stocks may decline after metals prices fell.

On Friday, the Australian shares reversed an early fall despite the negative leads overnight on overseas markets. The benchmark S&P/ASX200 index closed up 14.5 points, or 0.41 per cent, at 3,540.7, while the broader All Ordinaries index had gained 16.8 points, or 0.49 per cent, to 3,478.1. This week traders are awaiting RBA's aggressive rate cut which is expected to announced when its board meets on Tuesday.