The country's No. 2 casino group offered 2.68 of its shares for each Crown share, implying a potential value of over A$14 a share based on its estimate that its share price would be worth more than A$5, said Star, whose shares last closed at A$3.91.
MELBOURNE: Australian casino operator Star Entertainment Group said on Monday it had proposed to buy rival Crown Resorts Ltd in a deal valued at more than A$9.48 billion ($7.44 billion).
The country's No. 2 casino group offered 2.68 of its shares for each Crown share, implying a potential value of over A$14 a share based on its estimate that its share price would be worth more than A$5, said Star, whose shares last closed at A$3.91.
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