While the TAB board hasn't covered itself with glory throughout the bid, at least the outcome is a good one for its shareholders. Back in October, when TAB and UNiTAB announced an agreed merger - a reverse takeover of UNiTAB by TAB - TAB shares were trading at about $3.30. Now, the bidding duel between Tabcorp and UNiTAB has generated an additional $675 million of value for TAB shareholders.