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.