Crown is playing hard to get
The cold silence from Crown on Blackstone’s modified bid suggests it is not feeling the pressure to formally engage.
Blackstone’s Australian team appear to be closely following advice from the US private equity giant’s founder, Steve Schwarzman, in their takeover pursuit of embattled Crown Resorts: call, then keep calling.
Last week, Blackstone’s senior managing directors James Carnegie and Chris Tynan took the highly unusual approach of phoning in a second bid for the James Packer-backed $8 billion casino giant after its first offer received a cool reception from the Crown board.
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