Crown Resorts: US private equity group Blackstone offers James Packer exit strategy
Anne Davies, 22 March 2021
Billionaire James Packer has been offered a new exit strategy from Crown Resorts after the company received an unsolicited bid from private equity company Blackstone Group.
Blackstone, which already has a 10% holding in the casino giant, has offered to acquire all of the shares in Crown through a scheme of arrangement.
It is offering $11.85 a share, representing a 19% premium to the volume-weighted average price of Crown shares since the release of its first half results for the financial year 2021. Continue reading “Article: Crown Resorts: US private equity group Blackstone offers James Packer exit strategy”
Crown Resorts is facing a new threat to its casino licences and the prospect of multimillion-dollar fines after it was informed by Austrac, the government agency responsible for anti-money laundering laws that it has identified “potential non-compliance” by Crown Melbourne.