SYDNEY: Australian casino firm Crown Resorts Ltd said yesterday its board was likely to back an improved A$8.87bil (US$6.46bil or RM27bil) buyout proposal from Blackstone Inc unless a higher offer emerged.
Crown received the higher non-binding offer of A$13.10 (RM39.80) per share, a fourth hike from Blackstone after its previous bid of A$12.50 (RM38) a share was deemed as not “a compelling proposal“.
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