binance left Coinmarketcap net_left adver left
Detail

Crown Resorts says likely to back improved $6.5 billion Blackstone buyout offer

By Sameer Manekar and Scott Murdoch (Reuters) - Australia's biggest casino operator, Crown Resorts Ltd, said on Thursday its board was likely to back an improved A$8.87 billion...
Crown Resorts says likely to back improved $6.5 billion Blackstone buyout offer © Reuters. FILE PHOTO: The Crown Casino complex is pictured in Melbourne March 19, 2016. REUTERS/Jason Reed/File Photo

By Sameer Manekar and Scott Murdoch

(Reuters) - Australia's biggest casino operator, Crown Resorts Ltd, said on Thursday its board was likely to back an improved A$8.87 billion ($6.46 billion) buyout proposal from U.S. private equity firm Blackstone (NYSE:BX) Inc unless a higher offer emerged.

Crown received a higher non-binding offer of A$13.10 per share, a fourth from Blackstone whose previous bid of A$12.50 a share was deemed by Crown management as not "compelling".

A person familiar with the matter told Reuters the near 5% price rise agreed after initial due diligence was supported by major investors, including James Packer, who collectively own around 60% of the stock. There were hopes a deal could be signed by the end of January, the person said.

Investment manager Perpetual, the third-largest shareholder with a 9.2% stake, said it was in favour of the revised proposal in the absence of a better offer.

Packer, who has a 37% stake, did not respond to a request for comment. Blackstone, which owns 9.9% of Crown, declined to comment. The person was not authorised to speak publicly on the matter and so declined to be identified.

Crown shares jumped as much as 9% to A$12.68 on Thursday morning, their highest level since June 4, but still well below Blackstone's offer indicating market doubt about a rival bid.

The revised offer puts Blackstone in the box seat to win control of Crown, which has faced devastating misconduct inquiries in every state it operates in, plus protracted COVID-19 lockdowns.

Following the latest offer, the casino operator said it will engage with Blackstone on a non-exclusive basis and give the investment manager the opportunity to finalise due diligence.

Crown said if Blackstone makes a binding offer of at least A$13.10 per share and if there are no superior offers, its board intends to recommend shareholders vote in favour of the proposal.

"It is likely that a deal will get done," said Steve Johnson, chief investment officer at Forager Funds Management, which owns Crown shares.

"The increase in offer price is a welcome step in the right direction and we are supportive of the board continuing a push for an appropriate firm offer for shareholders," he said.

After an inquiry in July last year urged Crown be stripped of its gambling licence for its main Melbourne resort, Australia's second-biggest casino operator Star Entertainment Group withdrew, lower a A$9 billion buyout proposal.

However, Star has left open the possibility of re-entering the fray. In an emailed response to Reuters on Thursday, it reiterated it "remains open to exploring potential value enhancing opportunities with Crown".

($1 = 1.3729 Australian dollars)

ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top ig_main right top Binance _ main right top fbs_main right top tifia_main right top
27-01-2022 02:42:31 (UTC+7)

EUR/USD

1.1212

-0.0025 (-0.22%)

Summary

Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (2)

EUR/USD

1.1212

-0.0025 (-0.22%)

Summary

Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (2)

GBP/USD

1.3428

-0.0033 (-0.25%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (1)

USD/JPY

114.75

+0.12 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.7075

-0.0039 (-0.55%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.2716

+0.0052 (+0.41%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

EUR/JPY

128.65

-0.15 (-0.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/CHF

1.0381

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

Gold Futures

1,810.90

-18.80 (-1.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Silver Futures

23.192

-0.615 (-2.58%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Copper Futures

4.4387

-0.0763 (-1.69%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

87.02

-0.33 (-0.38%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Brent Oil Futures

88.43

-0.31 (-0.35%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (1)

Natural Gas Futures

4.080

+0.044 (+1.09%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (6)

Sell (2)

US Coffee C Futures

238.13

+0.23 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

4,164.60

+86.34 (+2.12%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (3)

S&P 500

4,349.93

-6.52 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (11)

Sell (0)

DAX

15,459.39

+335.52 (+2.22%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (1)

FTSE 100

7,469.78

+98.32 (+1.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

Hang Seng

23,753.50

-536.40 (-2.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

US Small Cap 2000

1,971.72

-32.32 (-1.61%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (4)

IBEX 35

8,620.20

+140.70 (+1.66%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

BASF SE NA O.N.

67.310

+1.980 (+3.03%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (0)

Bayer AG NA

51.55

+0.73 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (1)

Allianz SE VNA O.N.

224.80

+4.75 (+2.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Adidas AG

243.20

+5.45 (+2.29%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (4)

Deutsche Lufthansa AG

7.067

+0.390 (+5.84%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

Siemens AG Class N

141.24

+2.72 (+1.96%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (1)

Deutsche Bank AG

11.420

+0.346 (+3.12%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

 EUR/USD1.1212Sell
 GBP/USD1.3428↑ Buy
 USD/JPY114.75↑ Buy
 AUD/USD0.7075↑ Buy
 USD/CAD1.2716↑ Sell
 EUR/JPY128.65↑ Buy
 EUR/CHF1.0381↑ Buy
 Gold1,810.90↑ Sell
 Silver23.192↑ Sell
 Copper4.4387↑ Buy
 Crude Oil WTI87.02↑ Buy
 Brent Oil88.43↑ Buy
 Natural Gas4.080Neutral
 US Coffee C238.13↑ Sell
 Euro Stoxx 504,164.60Neutral
 S&P 5004,349.93↑ Buy
 DAX15,459.39↑ Buy
 FTSE 1007,469.78↑ Sell
 Hang Seng23,753.50↑ Buy
 Small Cap 20001,971.72Neutral
 IBEX 358,620.20↑ Sell
 BASF67.310↑ Buy
 Bayer51.55↑ Buy
 Allianz224.80↑ Sell
 Adidas243.20↑ Sell
 Lufthansa7.067↑ Sell
 Siemens AG141.24Neutral
 Deutsche Bank AG11.420↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,195/ 6,235
(5/ -5) # 1,263
SJC HCM6,185/ 6,245
(5/ 0) # 1,273
SJC Hanoi6,185/ 6,247
(5/ 0) # 1,275
SJC Danang6,185/ 6,247
(5/ 0) # 1,275
SJC Nhatrang6,185/ 6,247
(5/ 0) # 1,275
SJC Cantho6,185/ 6,247
(5/ 0) # 1,275
Cập nhật 27-01-2022 02:42:37
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,812.11-10.04-0.55%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.470,0022.780,00
EUR24.775,4326.164,36
GBP29.663,4530.930,27
JPY191,46202,68
KRW16,2819,84
Cập nhật lúc 14:36:00 27/01/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right