Business
Packer steps out of the shadows to put his Crown stake on the block – Sydney Morning Herald
James Packer’s announcement that he is open to offers for his 37 per cent stake in Crown is less of a statement and more of an understatement.
Crown did little more than acknowledge its receipt when it landed on March 22 and it hasnt even suggested it would grant Blackstone due diligence. The company has said nothing publicly about the offer price but is believed to view it as opportunistic and well shy of representing appropriate value.
Crown is under investigation for underpaying staffCredit:Jason South
It would be surprising if Packer didnt share that view.
Having Ken Moelis scoping out the market, particularly in the US, makes plenty…
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