Blackstone makes increased bid Crown Resorts

Blackstone Group has made a new bid to purchase all shares in Australia’s Crown Resorts, valued at A$8.5 billion ($6.1 billion), or A$12.50 ($9) per share.

Crown rejected its previous bids of A$11.85 ($8.57) in March and A$12.35 ($8.93) in May.

The company said it will assess the proposal and will engage with relevant stakeholders, including regulators.

“Any acquisition of Crown by Blackstone would be conditional on Blackstone receiving final approval from the casino regulators in Victoria, New South Wales, and Western Australia,” said Blackstone in a statement.