Crowns surges, ANZ & CBA settle class actions

At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. The benchmark index is currently up 0.35% to 6,731.5 points.

Here’s what is happening on the market today:

Crown share price surges on takeover approach

The Crown Resorts Ltd (ASX: CWN) share price is surging higher today after confirming the receipt of a takeover approach by US investment company Blackstone. According to the release, Blackstone has tabled an unsolicited, non-binding, and indicative proposal to acquire all of the shares in Crown at $11.85 cash per share. This represents a 20.1% premium to its last close price. The Crown…