{"id":63,"date":"2024-06-12T15:24:47","date_gmt":"2024-06-12T12:24:47","guid":{"rendered":"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/12\/crown-resorts-receives-amended-acquisition-bid-from-oaktree-capital\/"},"modified":"2024-06-13T12:05:14","modified_gmt":"2024-06-13T09:05:14","slug":"crown-resorts-receives-amended-acquisition-bid-from-oaktree-capital","status":"publish","type":"post","link":"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/12\/crown-resorts-receives-amended-acquisition-bid-from-oaktree-capital\/","title":{"rendered":"Crown Resorts Receives Amended Acquisition Bid from Oaktree Capital"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/_dZF-mXdSXQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Australian gaming and hospitality giant, Crown Resorts, has received an amended acquisition bid from American private equity group, Oaktree Capital Management. The proposition, estimated at AUD$3.1 billion (US$2.39 billion), comprises a dual-pronged financing structure. <\/p>\n<p>The initial component is a term credit of AUD$2 billion, while the second is a AUD$1.1 billion facility convertible into fresh Crown Resorts stock. This credit line would carry a seven-year duration and an annual interest rate of 6% for the initial two years, escalating to 6.5% per annum from the third year until its termination. The volume of new Crown Resorts shares issuable to Oaktree Capital would be restricted to roughly 10% of Crown Resorts&#8217; overall issued shares.<\/p>\n<p>This modified proposal follows Oaktree&#8217;s original unsolicited, non-binding indicative overture in April 2021 to procure all or a portion of Crown Resorts for AUD$12.00 in cash per share. <\/p>\n<p>Despite encountering examination from a Royal Commission investigation into its business practices, Crown Resorts has garnered substantial attention from prospective purchasers. In May 2021, Star Entertainment Group, a rival in the Australian casino sector, presented a merger proposition offering 2.68 Star Entertainment Group shares for each Crown Resorts share. <\/p>\n<p>The Crown Resorts board has yet to reach a definitive resolution on the merit of Oaktree&#8217;s revised proposal. <\/p>\n<p>On the 22nd of March, Blackstone attempted to acquire Crown Resorts, proposing a cash purchase of all stock at $11.85 per share.  Crown, nevertheless, opted to refuse the proposition. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian gaming and hospitality giant, Crown Resorts, has received an amended acquisition bid from American private equity group, Oaktree Capital Management. The proposition, estimated at AUD$3.1 billion (US$2.39 billion), comprises a dual-pronged financing structure. The initial component is a term credit of AUD$2 billion, while the second is a AUD$1.1 billion facility convertible into fresh [&hellip;]<\/p>\n","protected":false},"author":52,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crown Resorts Receives AUD$3.1 Billion Takeover Bid From Oaktree Capital<\/title>\n<meta name=\"description\" content=\"Australian gaming giant Crown Resorts is in the spotlight as it receives a revised acquisition offer from US private equity firm Oaktree Capital. The AUD$3.1 billion bid could significantly impact the future of Crown Resorts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/12\/crown-resorts-receives-amended-acquisition-bid-from-oaktree-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crown Resorts Receives Amended Acquisition Bid from Oaktree Capital\" \/>\n<meta property=\"og:description\" content=\"Australian gaming giant Crown Resorts is in the spotlight as it receives a revised acquisition offer from US private equity firm Oaktree Capital. The AUD$3.1 billion bid could significantly impact the future of Crown Resorts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/12\/crown-resorts-receives-amended-acquisition-bid-from-oaktree-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Best of Online Casino Gaming | Licensed &amp; Trusted\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-12T12:24:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-13T09:05:14+00:00\" \/>\n<meta name=\"author\" content=\"Connor &quot;Colt&quot; Hughes\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Connor &quot;Colt&quot; Hughes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/12\/crown-resorts-receives-amended-acquisition-bid-from-oaktree-capital\/\",\"url\":\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/12\/crown-resorts-receives-amended-acquisition-bid-from-oaktree-capital\/\",\"name\":\"Crown Resorts Receives AUD$3.1 Billion Takeover Bid From Oaktree Capital\",\"isPartOf\":{\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-12T12:24:47+00:00\",\"dateModified\":\"2024-06-13T09:05:14+00:00\",\"author\":{\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/#\/schema\/person\/ad5e9971c33fdff6f580e11ba95fd767\"},\"description\":\"Australian gaming giant Crown Resorts is in the spotlight as it receives a revised acquisition offer from US private equity firm Oaktree Capital. 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