Australia's Crown Resorts set for best week in 2 months after Blackstone raises bid

Chineseworldnet.Com

14/01/2022 05:03

** Crown Resorts Ltd  CWN.AX  set for best week since Nov
when Blackstone Inc  BX.N  first returned with a takeover bid
    ** Crown stock up 7.6% so far this week, heading for the
best weekly gain since Nov 19
    ** On Thursday, Blackstone revised its bid higher to
A$13.10, valuing Crown at A$8.87 bln ($6.5 bln), which the
Australian co says it may back if no higher offer emerges
 urn:newsml:reuters.com:*:nL4N2TS3NX
    ** Crown shares ended 8.8% higher on Thursday after
Blackstone revised its bid
    ** Stock dips 0.4% on Friday to A$12.6, with trading volumes
1.3-times their 30-day average
    ** Blackstone in Nov had proposed a A$8.46 bln ($6.16 bln)
buyout, at A$12.50 per share, of Crown after having an earlier
attempt rejected in May  urn:newsml:reuters.com:*:nL4N2S94X3     
    
         
     ($1 = 1.3738 Australian dollars)
    

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))