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Crown Resorts jumps 8% after receiving Blackstone’s upgraded $8.87bn takeover offer.

ASX200 climbs; NAB rallies on LanternPay acquisition offer; Crown Resorts rallies on upgraded Blackstone offer

The ASX200 is trading 0.4% higher at 7468.60 after lunchtime.

NAB rallies on HICAPS proposed acquisition of LanternPay.

Crown Resorts jumped 8.6% after Blackstone revised its takeover offer.

The Australian market has extended the midweek rally into Thursday as a surge in materials, resources, and metals and mining stocks drives the key index into positive territory, with the ASX200 trading 0.4% higher at 7468.60 after lunchtime..

The tech sector is trading more than 0.6% lower today as sharp losses for Appen, EML Payments and Tyro Payments weigh down the sector.

Bitcoin is trading 2.29% higher over the last 24-hours at US$43,637.51 at 1:15pm AEDT.

NAB shares are trading higher today after the big bank’s health payments subsidiary, HICAPS, proposed an acquisition of digital health claiming technology business, LanternPay. HICAPS is utilised by more than 94,000 health service providers and the acquisition of LanternPay will see LanternPay’s simple payments process for medical providers working alongside government schemes like the NDIS, integrated into the HICAPS.

Making headlines, shares in casino and resort giant Crown Resorts are flying more than 8.6% today after the company’s board said it is likely to back a new $8.87bn takeover proposal from US private equity firm, Blackstone Inc after the firm completed its due diligence inquiries. The new offer from Blackstone of $13.10/share comes after Crown executives deemed the first Blackstone offer of $12.50/share as not ‘compelling’.

And BAGO has launched a new seatbelt specific for holding bags of any kind upright in the car to avoid the content spilling throughout the car on a driver’s journey home.

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