World news – Crown Resorts play as US fund groups

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Gaming giant Crown Resorts is set to be acquired after a US mutual fund made an unsolicited offer.

The non-binding offer received on Sunday calls for an offer price of $ 11.85 in cash per share, which The offer represents a premium of 19 percent over the weighted average share price of Crown in the weeks since the publication of the results for the first half of the year.

« The Crown Board has not yet reached an opinion The indicative offer from Blackstone is subject to a number of conditions, including the unanimous recommendation of the Crown Board a future Blackstone-owned crown will be deemed eligible for the target’s Sydney Casino gaming license ownership.

Blackstone already owns 9.99 percent of Crown , which it bought from Melco Resorts & Entertainment in April last year for $ 8.15 per share.

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Ref: https://thewest.com.au

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