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Crown Resorts shares soar on AUD$8bn acquisition proposal

22nd March 2021 11:48 am GMT

Sydney-listed casino operator Crown Resorts has received an AUD$8.0bn acquisition offer from US private equity firm Blackstone Group.

The unsolicited, non-binding and indicative proposal on behalf of funds managed and advised by Blackstone and its affiliates aims to acquire all of the shares in Crown by way of a scheme of arrangement at an indicative price of $11.85 per share in cash.

The offer price represents a premium of 19 per cent on the volume-weighted average price [...]

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