The Blackstone Group Inc. (NYSE:BX) made non-binding proposal to acquire the remaining 90% stake in Crown Resorts Limited (ASX:CWN) for AUD 7.6 billion on March 21, 2021. Under the terms of the consideration, the shares will be acquired for cash payment of AUD 12.50 per share. Blackstone currently has a shareholding of 9.99%. Transaction would be funded through a combination of debt and equity. Blackstone would provide equity financing for the proposed transaction through one or more of its affiliated funds and the proposed transaction would not be subject to any financing condition. Proposal is subject to Blackstone conducting due diligence on Crown, receiving final approval from its investment committees which it received from preliminary support of the global investment committees and Singapore investment committee, Crown Board recommendation and a commitment from all Crown Directors to vote in favour of the Proposal (in the absence of a superior proposal and subject to an Independent Expert concluding (and continuing to conclude) that the proposed transaction is in the best interests of Crown shareholders, execution of a binding Implementation Agreement, regulatory approvals and Crown?s casino licenses and final approval from the casino regulators in each of Victoria, New South Wales and Western Australia. Crown has appointed UBS and Gresham Partners as financial advisers and Herbert Smith Freehills as legal adviser.