American investment fund Blackstone has made a bid to acquire Australian gaming operator Crown Resorts, the gaming company revealed in a recent announcement.
According to Crown, Blackstone made ‘an unsolicited, non-binding and indicative proposal’ to purchase all of Crown’s shares at an indicative price of A$11.85 cash per share, a premium 19 per cent higher than the volume-weighted average price of the company’s shares since the release of its latest financial report.
The proposal would value Crown at some A$8.02 billion (US$6.2 billion).