Packer hires bankers amidst Crown (CWN) takeover
CWN -0.84%: Packer has today appointed Moelis as adviser on the proposed Blackstone takeover bid and specifically, what he should do with his 37% stake. He is clearly open to a transaction with his private holding company CPH today saying… “CPH is open to considering, and will independently assess, any suitable transaction for Crown shares that may eventuate. CPH will closely follow future announcements by the Crown board in relation to the [Blackstone] proposal.”
MM are holding Crown (CWN) to see how the Blackstone bid progresses.
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