Crown accepts Blackstone offer

By Agence France-Presse

Feb 15, 2022 12:05 am

SYDNEY: Australian casino giant Crown Resorts said Monday it will ask shareholders to approve an A$8.9-billion ($6.4-billion) takeover offer from Blackstone, after months of negotiation with the US private equity firm.

If accepted, the deal will spell the end of Australian billionaire James Packer's two decades as Crown's major shareholder — a period defined by dramatic success, international expansion and, ultimately, serious questions about Crown's links to money laundering and organized crime.

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