Australia's Crown Resorts offered $2.3 billion to buyout James Packer
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Australia’s Crown Resorts Ltd said on Monday it will assess a A$3 billion ($2.32 billion) offer by U.S. private equity firm Oaktree Capital to buy James Packer’s 37% stake in the casino operator.
Packer’s influence on the company he founded came under intense scrutiny in a state inquiry last year that led to Crown’s flagship Sydney casino losing its license.
BLACKSTONE ADDS CONDITIONS FOR CROWN RESORTS BUYOUT
The reclusive billionaire earlier this month indicated he was open to selling his stake as part of a A$8 billion takeover bid by Blackstone Group Inc that would see him pocket around A$2.9 billion.