In a separate development, another KKR-led group—Pacific Consortium—has reportedly made a revised A$6.15 billion (about $4.6 billion) all-cash bid for Australian lottery operator Tatts Group (ASX: TTS). Offering A$4.21 per share, the proposal, which is also backed by Macquarie Group, comes after Tatts agreed to an A$11 billion merger last October with Australian betting company Tabcorp (ASX: TAH). Both bids sit slightly below Tatts’ trading price, which closed Wednesday at A$4.36. But the KKR-led offer provides the company an alternative option to a Tabbs-Tabcorp merger that would need approval from the Australian Competition Tribunal.
It’s been a whirlwind start to 2017 for KKR, with 24 completed PE deals so far this year, per the PitchBook Platform—more than any other firm in the world.