The Blackstone Group, had on 22 March, sent an unsolicited proposal to the Crown Resorts with the intent to acquire all shares in the company. Now, it has sent a modified proposal to the operator, which the Crown Resorts revealed.
The original proposal had an indicative price of AU$11.85 ($9.01) cash per share and that Blackstone was suitable to “continue to own and operate the Sydney, Melbourne & Perth licences and other gaming-related approvals as required.”
As per Gambling Insider, Crown revealed several conditions that must be cleared for the deal to progress, such as Blackstone receiving “approval from each relevant regulatory authority to acquire 100% of the issued shares in Crown as required under the applicable casino legislation and framework agreements in each of their respective States”.