Crown Resorts Ltd (ASX: CWN) has received a revised takeover bid from Blackstone
Crown Resorts Ltd (ASX:CWN) has announced it has received a revised non-binding proposal from a company on behalf of funds managed and advised by Blackstone Inc. and its affiliates, to acquire all of the shares in Crown by way of a scheme of arrangement at a price of A$13.10/share. This represents an increase of A$0.60 cash per share compared to the previous off price of A$12.50/share as announced to the ASX on 19 November, 2021.
Crown has decided to provide Blackstone with the opportunity to finalise its due diligence inquiries and negotiate the terms of an Implementation Agreement so that Blackstone can put forward a binding offer.
Following the announcement, shares of Incitec Crown Resorts Ltd traded 8.08% higher at $12.57/share.
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