SYDNEY (Reuters) -- Investment giant Blackstone Group made a $6.2 billion approach for troubled Australian casino firm Crown Resorts, sweetening an earlier offer as its main rival bidder is beset by regulatory problems.
The A$12.50-a-share proposal, disclosed by Crown on Friday, is the third from Blackstone and pushed Crown's shares 17% higher. The stock was still below Blackstone's indicative price, suggesting a degree of doubt that a deal will eventuate.
