Business
Blackstone wears the Crown in casino mess – The Australian Financial Review
There’d be nothing like a $14 a share private equity bid to end a lot of problems at Crown Resorts.
That wannabe suitor is US giant Blackstone, which swooped on a 9.9 per cent Crown stake at $8.15 a share last April.
Blackstone isnt in the business of owning minority stakes in listed casino groups. Sure, it loves casinos but it loves owning them and fixing them up as a controlling shareholder, away from the listed markets prying eyes.
Blackstones dealmakers its property team for this one have watched every development at Crown very closely. They have been through the 333 and 435-page Bergin reports,…
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