Australian casino operator Crown Resorts has formally rejected a takeover offer from US firm Blackstone Group on the grounds that it undervalued the company and did not benefit its shareholders.
Media specialized in economics say that, while rejecting Blackstone's proposal reduces the chances of obtaining a higher offer from Star Entertainment, it could mean real profits for Crown shareholders.
Crown, in addition to making public its refusal to the Blackstone proposal, ensures that its board of directors continues to evaluate the Star Entertainment proposal and has requested additional information on various aspects.
It should be remembered that the Star Entertainment group is proposing a merger that would create an Australian gaming and hospitality giant with a market value of A $ 12 billion ($ 9.4 billion).
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