Business
Is the Crown (ASX:CWN) takeover offer good value for shareholders?
The Crown Resorts Ltd (ASX: CWN) share price was an exceptionally strong performer on Monday.
The casino and resorts operator’s shares rocketed 21% higher to $11.97.
Why did the Crown share price rocket higher?
Investors were scrambling to buy Crown shares on Monday after it confirmed the receipt of a takeover offer from US investment giant Blackstone.
According to the announcement, Crown has received an unsolicited, non-binding, and indicative proposal of $11.85 cash per share from Blackstone. This indicative price will reduce by the value of any dividends or distributions Crown declares or pays.
As things stand, the Crown board is…
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