News: CWN Crown Resorts Receives Acquisition Proposal From Blackstone

Nov 19 (Reuters) - Blackstone Inc BX.N :

• RECEIVES ACQUISITION PROPOSAL FROM BLACKSTONE
• GOT UNSOLICITED AND NON-BINDING PROPOSAL FROM CO ON BEHALF OF FUNDS MANAGED AND ADVISED BY BLACKSTONE INC.
• DEAL FOR A$12.50 CASH PER SHARE
• PROPOSAL TO ACQUIRE ALL OF SHARES IN CROWN BY WAY OF A SCHEME OF ARRANGEMENT
• HAS NOT YET FORMED A VIEW ON MERITS OF PROPOSAL
• WILL NOW ASSESS PROPOSAL, HAVING REGARD TO VALUE AND TERMS OF PROPOSAL AND OTHER CONSIDERATIONS
• CROWN SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO PROPOSAL AT THIS STAGE
• BLACKSTONE HAS INDICATED THAT PROPOSED TRANSACTION WOULD BE FUNDED THROUGH A COMBINATION OF DEBT AND EQUITY