| 20 April 2024, Saturday |

Blackstone Group plans to acquire Casino operator Crown Resorts

Casino operator Crown Resorts Ltd said on Monday it received an acquisition offer from private equity company Blackstone Group Inc that values the company at $6.19 billion.

The offer was priced at $9.14 per share, a premium of 20.2 percent to Crown’s closing price of $7.60 on Friday.

Crown said its board had not yet formed a view on the merits of the proposal.

Blackstone currently has a 10 percent stake in Crown which it bought from Macau’s Melco Resorts & Entertainment Ltd in April last year, making it the second-largest holder in Crown after the company’s billionaire founder James Packer.

  • Reuters