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 [...]
