News: CWN Crown Resorts Receives Acquisition Proposal From Blackstone

March 22 (Reuters) - Crown Resorts Ltd (CWN) :

• CROWN RECEIVES ACQUISITION PROPOSAL FROM BLACKSTONE
• INDICATIVE PRICE OF $11.85 CASH PER SHARE
• BOARD HAS NOT YET FORMED A VIEW ON MERITS OF PROPOSAL
• IT WILL NOW COMMENCE A PROCESS TO ASSESS PROPOSAL
• INDICATIVE PRICE WILL BE REDUCED BY VALUE OF ANY DIVIDENDS OR DISTRIBUTIONS DECLARED OR PAID BY CROWN
• THERE IS NO CERTAINTY THAT PROPOSAL WILL RESULT IN A TRANSACTION
• CROWN HAS APPOINTED UBS AS FINANCIAL ADVISER AND ALLENS AS LEGAL ADVISER IN RELATION TO PROPOSAL
• BLACKSTONE CURRENTLY HAS A SHAREHOLDING OF 9.99% IN CROWN WHICH IT ACQUIRED FROM MELCO RESORTS & ENTERTAINMENT LIMITED

Source ( https://bit.ly/3r7A0DA)

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