Dec 1, 2021
Blackstone Finally Gets Access to Crown Resorts’ Accounts After $6 Billion Offer
Bloomberg News
,(Bloomberg) -- Blackstone Group Inc. was finally given access to the accounts of Australian casino operator Crown Resorts Ltd. after last month increasing its takeover offer to A$8.5 billion ($6 billion).
While the bid “does not represent compelling value,” Crown has granted access to non-public information so the U.S. buyout firm can conduct non-exclusive due diligence, Crown said in a statement Thursday.
This will allow Blackstone to work on a fresh offer “that adequately reflects the value of Crown,” the company said. There’s still no guarantee of a deal, Crown said.
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