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$8.9b bid to takeover Crown Resorts gets approved

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2 years ago

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Australia’s Federal Court has officially approved the $8.9 billion takeover bid of Crown Resorts

Australia’s Federal Court has approved US company Blackstone‘s $8.9 billion offer to take over Crown Resorts.

The acquisition is set to give James Packer a $3.36 billion pay day for his 37 per cent share. 

Packer has been involved with the troubled casino business since 1999.

This court decision is the final hurdle in the approval process.

It means Crown will become a private company and no longer be listed on the Australian Stock Exchange. 

Crown has been plagued by scandals including inquiries detailing money laundering and links to criminal gangs.

Katerina Kostakos contributed to this report.

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Why the meme-stock frenzy is unlikely to repeat

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6 days ago

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May 14, 2024

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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6 days ago

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May 14, 2024

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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7 days ago

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May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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