Bidding War Heats Up For Aussie Billionaire James Packer s Crown Resorts forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
The Star unveils Crown merger plans to create $12b gambling giant
Casino operator The Star Entertainment Group has unveiled a bid to merge with James Packer s Crown Resorts to create a massive $12 billion gambling giant.
In a statement to the ASX today, which outlined the merger proposal, The Star said in a 21-page document it believed the ACCC would not oppose the deal.
The Star is working with Credit Suisse to establish financing for the potential deal, it said in the statement.
James Packer remains the majority shareholder in Crown through his private company.(AAP)
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Last modified on Sun 9 May 2021 16.50 EDT
Hello, and happy Monday. Sydney is on
Covid standby,
landed, and the
federal
budget comes out tomorrow (which people already have plenty to say about). Itâs Imogen Dewey with the main stories for you this morning, plus a podcast about those
plummeting sperm counts.
Tuesday nightâs budget as part of efforts to lock in economic recovery after the pandemic and drive down unemployment. While such investments improve the productive capacity of the Australian economy, the program will also help lay the groundwork for an election contest either late in 2021 or early next year. New analysis meanwhile shows the government last year spent just 16 cents out of every $100 addressing the
ASX hits new record high; BHP, Rio, Fortescue soar
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ASX could hit 7500 in coming weeks
William McInnes
The momentum in the Australian sharemarket is set to continue, with some investment experts tipping the S&P/ASX 200 Index could clear 7500 in the coming weeks, driven by the banks and iron ore miners.
The benchmark index closed at its highest level on record on Monday driven by a surge in the major iron ore miners amid soaring commodity prices.
âThe ASX/S&P 200 is set to surpass 7,200, likely hitting 7,500 in coming weeks, and could even go to 8,000, as iron ore hits record highs, taking BHP Billiton and Rio Tinto with it, and the CBA likely striking a record $100,â said Russel Chesler, head of investments and capital markets at VanEck Australia
Morning mail: budget’s big infrastructure spend, Jerusalem unrest, plunging sperm counts Imogen Dewey
Hello, and happy Monday. Sydney is on
Covid standby,
federal
budget comes out tomorrow (which people already have plenty to say about). It’s Imogen Dewey with the main stories for you this morning, plus a podcast about those
plummeting sperm counts.
Tuesday night’s budget as part of efforts to lock in economic recovery after the pandemic and drive down unemployment. While such investments improve the productive capacity of the Australian economy, the program will also help lay the groundwork for an election contest either late in 2021 or early next year. New analysis meanwhile shows the government last year spent just 16 cents out of every $100 addressing the