UPDATE 3-Australia s Star makes $7 bln play for Crown, taking on private equity giants reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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SYDNEY Australian casino operator Star Entertainment Group on Monday proposed an all-stock buyout of larger rival Crown Resorts Ltd that it valued at A$9 billion ($7 billion), vying with two private equity giants for control of the troubled company.
Three months after Crown was declared unfit for a gambling license at its new Sydney resort tower, Star said the share-swap takeover approach would create “one of the largest and most attractive integrated resort operators in the Asia Pacific region.”
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