Blackstone Makes Another Play for Crown Resorts with AUD$12.50 Per Share Offer

Blackstone has once again set its sights on Crown Resorts, proposing a generous AUD$12.50 per share acquisition. This marks their third endeavor to court the prominent Australian casino operator, following prior bids of AUD$11.85 and AUD$12.35 per share.

However, the agreement is not yet finalized. Blackstone aims to conduct a thorough review of Crown’s financial records and requires approval from both their internal investment committee and, critically, a united Crown board.

Crown, in turn, is maintaining a cautious stance, indicating they will explore all available choices and engage in discussions with regulatory bodies before reaching a determination.

Crown Resorts stakeholders are not required to take any action regarding the current proposition. The finalization of the Blackstone acquisition remains uncertain.

Prior to any advancement, Blackstone requires approval from gaming authorities in Victoria, New South Wales, and Western Australia. Preliminary discussions regarding the prospective transaction have already taken place between Blackstone and the respective regulators.