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    Home»Deals & Transactions»Crown says likely to back improved $6.5 bln Blackstone buyout offer
    Deals & Transactions

    Crown says likely to back improved $6.5 bln Blackstone buyout offer

    January 14, 2022Updated:January 14, 20221 Min Read
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    Australia’s biggest casino operator, Crown Resorts Ltd, said on Thursday its board was likely to back an improved A$8.87 billion ($6.46 billion) buyout proposal from U.S. private equity firm Blackstone Inc unless a higher offer emerged.

    Crown received a fourth non-binding offer of A$13.10 a share, having dismissed Blackstone’s previous bid of A$12.50 as not “compelling.

    Investment manager Perpetual, Crown’s third-largest shareholder with a 9.2% stake, said it was in favour of the revised proposal in the absence of a better offer.

    Read more/Source: Reuters

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