Australia’s Star eyes Crown in $7 billion play, vies with private equity By Reuters
By Byron Kaye SYDNEY (Reuters) -Australian casino operator Star Entertainment Group on Monday proposed an all-stock buyout of larger rival Crown Resorts Ltd that it valued at A$9 billion ($7 billion), taking on two private equity giants for control of the troubled company. Three months after Crown was declared unfit for a gambling licence at its new Sydney resort tower, Star said the share-swap takeover approach would create "one of the largest and most attractive integrated resort operators in the Asia Pacific region". The move presents Crown shareholders with a third option after buyout giant...
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