Crown Resorts Gets Sweetened Takeover Offer From Blackstone
2021年11月19日 - 8:55AM
Dow Jones News
By Rhiannon Hoyle
Crown Resorts Ltd. said U.S. private-equity firm Blackstone
Group Inc. sweetened its takeover offer for the Australian casino
operator.
Crown on Friday said Blackstone has offered a price of 12.50
Australian dollars (US$9.10) a share, minus any dividends to be
paid by Crown, to buy the business. Blackstone most recently
offered A$12.35 per share for Crown in May, increasing an earlier
offer of A$11.85 per share.
The proposal includes a number of conditions, including due
diligence and a unanimous Crown board recommendation, as well as
final approval from casino regulators in the states of Victoria,
New South Wales and Western Australia, Crown said.
"Blackstone has stated that it has engaged with the regulators
in relation to this issue and that the regulators' advisers have
indicated to Blackstone that there is no reason to believe that an
approval would not be realized," the company said.
Blackstone has said it is prepared to go ahead with a takeover
of Crown, which is facing multiple investigations from Australian
authorities into its business practices, even if those processes
are ongoing, Crown said.
Crown said its directors are yet to have formed a view on
Blackstone's latest proposal.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 18, 2021 18:40 ET (23:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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