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.