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Crown Resorts rejects Blackstone proposal as it mulls Star merger

17th May 2021 9:45 am GMT

Australia’s Crown Resorts is continuing to engage with The Star Entertainment Group regarding a potential merger of the casino businesses after rejecting an indicative takeover offer by The Blackstone Group.

Crown Resorts said Monday that Blackstone’s revised indicative cash offer of AUD$12.35 per share, up from its original proposal of $11.85 per share, undervalues the company by failing to recognise the strategic and monetary value of Crown’s assets.

Crown also cited its significant investment in Crown [...]

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