Crown Resorts

Blackstone’s Fourth Bid for Crown Resorts

Event-Driven
221 Views, 13 Jan 2022 19:50
EXECUTIVE SUMMARY
  • Blackstone Group (BX US) has returned for a fourth time with a revised indicative offer of A$13.10 cash per share, a 4.8% bump to its previous offer of A$12.50.
  • The Board intends to recommend a binding offer of no less than A$13.10 per share. CPH, the largest shareholder, is “encouraged by today’s announcement.
  • The Board’s willingness to recommend a binding offer may draw out rival suitors. At the last close of A$12.65, the shares trade at a 3.6% gross spread to the offer.
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Arun George
IPOs and Catalysts/Events
Global Equity Research Ltd
Information TechnologyEquitiesEquity Capital MarketsEvent-Driven

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start... 

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