Business
Crown rejects Blackstone offer – The Australian Financial Review
Crown Resorts has formally rejected Blackstone’s takeover offer but is still considering The Star’s merger proposal.
The board also said it believed Blackstone faced significant uncertainty as to the timing and outcome of the regulatory approval processes. Crown said Blackstones revised proposal as currently understood presented an unacceptable level of regulatory uncertainty for Crown shareholders.
The decision comes as Perpetuals head of equities urged Crown to open its data room to kick off the formal sale process on Thursday. Perpetual holds 8 per cent of the company. Mr Packer, who has not made public comments…
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