Crown Resorts has postponed a scheme meeting relating to investment business Blackstone’s takeover of the company, as the private equity giant has not yet received all of the necessary approvals.
At the scheme meeting, Crown shareholders can cast their vote for or against the acquisition.
The meeting was set to take place at 10am Melbourne time on 29 April, but will now take place at 10am Melbourne time on 20 May. Shareholders can also vote by proxy before 10am Melbourne time on 18 May.
In a statement, Crown explained that Blackstone had not yet received all gaming regulatory approvals necessary under the scheme implementation deed, which led to the decision to postpone the meeting.
In March Crown released a scheme document ahead of the meeting, which detailed why Crown shareholders may wish to vote in favour of, or against, the acquisition.
Along with the publication of the document Crown urged shareholders to support the deal, warning that they could risk “the uncertainties and ..