James Packer is set to end his family’s decades-long association with Australia’s public markets, with the billionaire poised to accept the $8.9 billion binding takeover offer for Crown Resorts from US private equity firm Blackstone.
Crown’s board announced on Monday it had unanimously backed Blackstone’s $13.10-a-share offer after a 12-month battle for the casino giant, which has been mired in scandals that led to separate royal commissions in Victoria and Western Australia.
James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
