General
Blackstone’s $8b Crown takeover bid faces hurdles, like whether James Packer will want a higher price
Crown Resorts has confirmed an $8 billion takeover offer from US private equity giant Blackstone.
Crown said its board had not yet formed a view on the merits of the proposal and would start a process to assess it.
But the proposed takeover bid faces a number of hurdles, and regulatory risks abound.
These include several inquiries into the Casino giant by state-based regulators, including two royal commissions, looming class actions and financial regulator AUSTRAC investigating Crown for potential breaches of Australia’s anti-money laundering and counterterrorism financing laws.
ABC News: Jane Cowan
)What is Blackstone and why is it interested in Crown?
-
General2 hours agoFerries and celebrities as pollies dash to win the west
-
Noosa News21 hours agoMotorbike rider dies after car collision at Kidaman Creek, west of Sunshine Coast
-
General22 hours agoDemocratic senators want an investigation into potential market manipulation from Trump’s inner circle
-
Noosa News24 hours agoVHM’s Goschen Rare Earths and Mineral Sands Project granted 20-year licence