SYDNEY: Troubled Australian casino operator Crown Resorts rejected a takeover bid from US private equity giant Blackstone on Monday , saying the offer"undervalues" the gaming group.
Blackstone launched its bid in March, just weeks after regulators refused to grant Crown a licence to run its flagship casino in a gleaming 75-storey Sydney tower, owing to suspected links to organised crime. Blackstone, which owns a 9.99 per cent stake in Crown, had already revised its offer from an initial A$11.85 per share to A$12.35.But the Crown board told the Australian Securities Exchange the bid still"undervalues" the company, while regulatory requirements"present an unacceptable level of regulatory uncertainty for Crown shareholders".
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oliveria KOs Chandler to claim UFC lightweight crownBrazilian Charles Oliveira mounted a superb comeback to score a second-round knockout victory over American Michael Chandler to win the UFC ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Soccer-Spotify founder Ek says his bid for Arsenal was rejectedSpotify CEO and founder Daniel Ek said on Saturday an offer to buy Premier League Arsenal had been rejected by owner Stan Kroenke's family.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Football: Spotify founder Ek says his bid for Arsenal was rejected, remains 'interested'Spotify CEO and founder Daniel Ek said on Saturday an offer to buy Premier League Arsenal had been rejected by owner Stan Kroenke's family.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Soccer-Spotify founder Ek says his bid for Arsenal was rejectedSpotify CEO and founder Daniel Ek said on Saturday an offer to buy Premier League Arsenal had been rejected by owner Stan Kroenke's family. Ek took to Twitter to issue a statement correcting 'inaccurate reports' that he had not made a bid. 'This week an offer was made to both Josh Kroenke and their bankers that included fan ownership, representation at the board and a golden share for the supporters,' the Swede said.
Source: YahooSG - 🏆 3. / 71 Read more »