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Australia’s Star Entertainment tables offer to merge with Crown

10th May 2021 10:24 am GMT

Australian casino operator Star Entertainment Group has submitted a non-binding proposal to merge with rival operator Crown Resorts to create a potential AUD$12bn gaming giant.

The indicative proposal would see Star Entertainment merge with Crown at a nil-premium share exchange ratio of 2.68 Star shares per Crown share.

Based on recent trading values of The Star and the substantial value that would be unlocked by a merger, The Star estimates its pro forma share price to be [...]

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