US funds manager Blackstone is inching ever closer to its all-but-complete takeover of Crown Resorts after a crucial go-ahead from the Federal Court.
Crown announced today the acquisition had been approved.
It follows the granting of a casino licence by the NSW Independent Liquor and Gaming Authority last week.
“Crown expects to lodge an office copy of the Court orders with the Australian Securities and Investments Commission today, at which time the Scheme will become legally effective,” Crown said in a statement.
“Crown will also request that quotation of Crown shares on the ASX be suspended from close of trading today.”
When the takeover is effected, shareholders will be paid $13.10 per Crown share, based on what they hold at 7pm AEST on June 17.
Blackstone’s existing Crown shareholding will be excluded from the scheme.
Discussion about this post