Crown Resorts receives third takeover offer from Blackstone

 US-based investment management company Blackstone has launched its third attempt to take over gambling and hotels giant Crown Resorts (ASX: CWN) today, valuing the target at $8.5 billion.

At $12.50 per share, the offer is slightly higher than previous bids made by Blackstone of $12.35 per share on 10 May 2021 and $11.85 per share on 22 March.

Both of those offers were rejected on the basis they undervalued the embattled company, which recently had a Victorian Royal Commission determine it engaged in “illegal, dishonest, unethical and exploitative” conduct at its Melbourne casino and hotel.

Read More: https://www.businessnewsaustralia.com/articles/crown-resorts-receives-third-takeover-offer-from-blackstone.html



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