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Packer barred from Crown board
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Packer barred from Crown board
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Packer barred from Crown board
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Packer taps Moelis Australia for Crown Resorts
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James Packerâs Consolidated Press Holdings has hired Moelis Australia to look after its interests at Crown Resorts.
Blackstone lobbed an $11.85 a share indicative bid at Crown a fortnight ago.Â
Bloomberg
As revealed by Street Talk, CPH has mandated Moelis to independently assess what to do with the groupâs Crown Resorts shareholding, in light of an $11.85 a share indicative offer from Blackstone.
Packerâs CPH is Crown Resortsâ biggest shareholder with a 37 per cent stake worth $2.95 billion at $11.85 a share.
The gig ensures Moelis will have front-row seats to the unfolding Crown situation. Morgan Stanley and Clayton Utz are in Blackstoneâs corner, while UBS and Allens work for Crown.