James Packer (left) and John Alexander, the executive chairman of Crown Resorts, arrive to attend ... [+] the Crown Resorts annual general meeting on October 26, 2017 in Melbourne, Australia. Scott Barbour/Getty ImagesThe bidding war for billionaire James Packer’s Crown Resorts has intensified after rival casino operator Star Entertainment Group proposed an all-share merger that would create a A$12 billion ($9.4 billion) gaming giant down under. Star said Monday it is offering 2.68 shares for each Crown share, implying a potential value of over A$14 per share. Crown shareholders do not need to take any action in relation to the merger proposal at this stage. There is no certainty that the merger proposal will result in a transaction.”The bidding comes amid looming regulatory inquiries.

Source: Forbes May 10, 2021 06:33 UTC