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Crown Resorts Board recommends Blackstone takeover offer

14th February 2022 10:50 am GMT

Sydney-listed casino operator Crown Resorts has agreed a sale to investment firm Blackstone at a price of AUD$13.10 per share.

The proposed Scheme of Arrangement is subject to shareholder and regulatory approvals and values Crown at approximately AUD$8.9bn.

The $13.10 per share sale price represents a 32 per cent premium on the closing price of Crown shares on 18 November 2021, the last trading before Blackstone’s bid of $12.50 per share.

The investment firm’s earlier proposals at $11.85 [...]

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