Crown Resorts : Australia’s Crown Resorts receives $6.2 billion buyout offer from Blackstone

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FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia

The offer was priced at A$11.85 per share, a premium of 20.2% to Crown’s closing price of A$9.86 on Friday.

Crown said its board had not yet formed a view on the merits of the proposal.

Blackstone currently has a 10% stake in Crown which it bought from Macau’s Melco Resorts & Entertainment Ltd in April last year, making it the second-largest holder in Crown after the company’s billionaire founder James Packer.

($1 = 1.2967 Australian dollars)

(Reporting by Rashmi Ashok in Bengaluru; Editing by Peter Cooney and Daniel Wallis)