Blackstone Makes Third Pass at Crown - ShareCafe
Blackstone Makes Third Pass at Crown
Currently, the CROWN RESORTS competition has been in full swing by the US Investment Group, BLACKSTONE, has announced a more serious bidding for the casino group that has suffered a management difficulty.
BLACKSTONE announced on Friday that CROWN is ready to present $ 12 per share.
The closing price on Thursday was $ 90 cents, rose from $ 11 for $ 11 per share presented in March and $ 35 per share presented in May.
Crown states that this new proposal is being evaluated.
"The Crown Board of Directors has not yet solidified this proposal," said the company in a statement to ASX. "It is not certain that this proposal will lead to transactions."
Blackstone already owns 10%of Crown.
CROWN's future is still opaque.
The NNO government has not yet approved Sydney's Balangaroo casino, and the Victorian Royal Committee the other day has ruled that it is inadequate for CROWN to have a casino license in the state. , The way to move forward was presented.
Until the agreement was finally reached, the crown was allowed to continue running a casino under the government supervision in Melbourne.
The WA Royal Committee on the royal family's Perth Casino will end the hearing and will report the survey in March 2022.
Share this article Related article tag CWNAbout Glenn Dyer
Glenn Dyer has been a financial journalist and television producer for over 40 years. Worked for Maxwell Newton, Queensland Newspaper, AAP, Australian Financial Review, Nine Network, Crispy.
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Should we be worried about poor market breadth? ASX closes % lower: Interest rate concerns loom · saw strong investment returns again but can it. Lots of action in Crown Resorts on Monday with a higher offer price from US suitor, Blackstone, a merger proposal from rival casino group. Blackstone revealed Friday that it was now prepared to offer $ a share for Crown. That's a considerable premium for Crown shares which closed at $ on.
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