{"id":25114,"date":"2021-12-02T07:48:47","date_gmt":"2021-12-02T10:48:47","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=25114"},"modified":"2026-04-23T13:18:22","modified_gmt":"2026-04-23T16:18:22","slug":"crown-resorts-turns-down-latest-blackstone-offer","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-turns-down-latest-blackstone-offer","title":{"rendered":"Crown Resorts turns down latest Blackstone offer"},"content":{"rendered":"\n<p>Crown Resorts believes Blackstone&#8217;s US$6.16n offer doesn&#8217;t represent compelling value for its shareholders but invited the US fund to make another offer.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- Crown Resorts has again rejected an acquisition offer from <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-receives-new-acquisition-offer-from-blackstone\">The Blackstone Group<\/a>. The US fund\u00a0had made a third unsolicited and non-binding proposal to acquire all of the shares in Crown at a price of AU$12.50 (US$9.11) cash per share.<\/p>\n\n\n\n<p>Through a statement, Crown Resorts said its board is of the view that\u00a0the proposal does <strong>not represent compelling value<\/strong> for Crown shareholders.\u00a0However, the Crown Board offered Blackstone the opportunity to &#8220;access non-public information to allow Blackstone to undertake initial due diligence inquiries on a non-exclusive basis so that<strong>\u00a0it can formulate a revised proposal<\/strong>\u00a0that adequately reflects the value of Crown.&#8221;<\/p>\n\n\n\n<p>Provision of the information is conditional on Crown and Blackstone entering into an appropriate confidentiality agreement.\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/blackstone-makes-au8bn-offer-to-acquire-crown-resorts\">Blackstone<\/a>, which already has a 10 per cent holding in Crown, made its first offer in March, offering<strong>\u00a0AU$11.85 cash per share<\/strong>. In May, it\u00a0increased its original bid by AU$0.50 to <strong>AU$12.35<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crown Resorts believes Blackstone&#8217;s US$6.16n offer doesn&#8217;t represent compelling value for its shareholders but invited the US fund to make another offer.<\/p>\n","protected":false},"author":176,"featured_media":25149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts has rejected Blackstone's third unsolicited acquisition offer of AU$12.50 per share, deeming it not to represent compelling value for shareholders. However, Crown has invited Blackstone to conduct non-exclusive due diligence to formulate a revised, higher proposal, conditional on a confidentiality agreement. This signals ongoing M&A negotiations and a potential increase in the bid for the Australian gaming operator.","focusai_entities":"Crown Resorts, The Blackstone Group, Blackstone","focusai_location":"Australia, US","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Crown Valuation Drivers","query":"What specific non-public information is Crown Resorts likely to provide during due diligence that could justify a higher valuation from Blackstone, beyond current market multiples?"},{"label":"M&A Regulatory Impact","query":"Given Crown's recent regulatory challenges in Australia, how might a Blackstone acquisition impact ongoing licensing reviews and the perceived suitability of the operator's governance framework?"}],"footnotes":""},"categories":[16336,157,158],"tags":[16237,14657],"class_list":["post-25114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-blackstone-group","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=25114"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25114\/revisions"}],"predecessor-version":[{"id":25125,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25114\/revisions\/25125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25149"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=25114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=25114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=25114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}