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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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Will Australia’s foreign investment rule create an economic boost?

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12 hours ago

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May 8, 2024

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Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

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Money

Research key to investment success

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2 days ago

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May 6, 2024

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What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

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Why “stagflation” will be the greatest financial threat of 2024

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2 days ago

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May 6, 2024

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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