$8.9b bid to takeover Crown Resorts gets approved

Published

4 years ago

June 23, 2022

ticker NEWS

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.

Related Topics:bid Blackstone casino crown casino James Packer scandal

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Major banks and corporations report earnings this week, influencing market outlook and economic indicators ahead of 2026.

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9 hours ago

January 12, 2026

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Major banks and corporations report earnings this week, influencing market outlook and economic indicators ahead of 2026.

This week is packed with financial news as major banks and corporations release their earnings. JPMorgan, Wells Fargo, and Goldman Sachs will reveal their year-end results, offering insight into the health of the banking sector. CEO Jamie Dimon of JPMorgan has already highlighted uncertainty in the U.S. economy, making investors watch closely.

In addition to banking, Delta Air Lines and Taiwan Semiconductor will report, shedding light on consumer spending and tech industry trends. These corporate updates will help investors gauge the broader market performance heading into 2026.

All eyes are also on December’s inflation figures, alongside retail sales and new home sales data. These reports will be key indicators for the U.S. economy, impacting stocks, interest rates, and market sentiment.

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Boeing hits seven-year high in plane deliveries as demand soars

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Boeing’s aircraft deliveries hit a seven-year high, bolstered by demand and new orders, including Alaska Airlines’ purchase of 105 jets.

Boeing has reached its highest level of airplane deliveries in seven years, marking a strong recovery after a challenging period for the aerospace giant. The company is ramping up production of its 737 Max and 787 Dreamliners to meet growing demand from airlines worldwide.

Investors are optimistic as Boeing shares have climbed significantly over the past year, reflecting renewed confidence in the company’s long-term prospects. Airlines are responding with new orders, and Boeing has already secured 1,000 gross orders through November.

Alaska Airlines recently placed an order for 105 Boeing 737 Max 10 jets, further signalling industry faith in the manufacturer. Robust travel demand continues to drive growth for Boeing and its competitor, Airbus, highlighting a rebound in global air travel.

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Wall Street hits record highs as markets shrug off Venezuela tensions

US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.

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US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.

US markets surged to fresh records as investors looked past recent geopolitical tensions following the US attack on Venezuela. Confidence returned quickly, driving broad gains across major indices.

The S&P 500 climbed 0.7% to reach a new all-time intraday high, while the Dow Jones Industrial Average jumped 495 points, or 1%, also setting a record during Tuesday’s session.

The rally signals continued optimism around economic resilience, despite global uncertainty and ongoing international conflicts.

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