News: CWN Crown Resorts Updates On The Acquisition Proposal From Blackstone

Dec 2 (Reuters) - Crown Resorts Ltd (CWN) :

• UPDATE ON THE ACQUISITION PROPOSAL FROM BLACKSTONE
• CROWN HAS DISCUSSED PROPOSAL WITH BLACKSTONE
• HAS CAREFULLY CONSIDERED PROPOSAL
• BOARD IS OF VIEW THAT PROPOSAL DOES NOT REPRESENT COMPELLING VALUE FOR CROWN SHAREHOLDERS
• HAS OFFERED BLACKSTONE OPPORTUNITY TO ACCESS NON-PUBLIC INFORMATION TO ALLOW BLACKSTONE TO UNDERTAKE INITIAL DUE DILIGENCE INQUIRIES
• ALLOWED BLACKSTONE TO UNDERTAKE INITIAL DUE DILIGENCE INQUIRIES ON A NON-EXCLUSIVE BASIS
• PROVISION OF SUCH INFORMATION IS CONDITIONAL ON CROWN AND BLACKSTONE ENTERING INTO AN APPROPRIATE CONFIDENTIALITY AGREEMENT
• CROWN SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO PROPOSAL AT THIS STAGE