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Aussie Billionaire James Packer s Crown Rejects Blackstone s $6 5 Billion Offer

Casino Op Crown Rejects Blackstone Bid as Too Low

May 17, 2021, 11:42 am · Australian casino operator Crown Resorts on Monday formally rejected a takeover offer from US private equity firm Blackstone Group, saying it materially undervalued the company. Crown further noted Monday morning that it is still reviewing a separate merger proposal from its biggest rival in the local market, The Star Entertainment Group. The announcements came as public hearings at the Victoria royal commission commenced. Victoria authorities are assessing Crown’s suitability to hold a license for its casino in Melbourne. A royal commission is also under way in Western Australia, where the company runs a gambling establishment in Perth.

Deals of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions Reuters 2 hrs ago (Adds DEPA Infrastructure, AT&T; updates Gojek) May 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Monday: Australian miner South32 Ltd said it was expecting to book a loss of up to $175 million from the sale of its South African thermal coal assets, which was finalised with mining group Seriti Resources on Monday. Spanish telecoms group Telefonica is seeking buyers for its logistics and express-delivery unit Zeleris, a source familiar with the offer said, amid a months-long boom in the business as COVID-19 pushes people to shop online.

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