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Huntley Mitchell 18 May 2021 Crown Resorts has shifted its full attention to The Star Entertainment Group’s big merger offer, after giving Blackstone’s acquisition proposal the flick. The private equity firm submitted a revised proposal to acquire Crown by way of a scheme of arrangement at an indicative price of $12.35 cash per share – an increase of four per cent compared to the previous indicative offer price. However, Crown Resorts announced yesterday that the company’s board has unanimously concluded that Blackstone’s revised proposal “undervalues Crown and is not in the best interests of Crown’s shareholders”. “In coming to this conclusion, the board considered a range of scenarios given the regulatory inquiries in relation to Crown which are underway.

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