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 ...
Source: casinonewsdaily.com