Guess which ASX 200 share is trading for the last time today?

What's going on with Crown shares?

Young man sitting at a table in front of a row of pokie machines staring intently at a laptop. looking at the Crown Resorts share price

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Crown shares are up 0.23% to $13.08 on the last day of trade 
  • The company received final approval from the Federal Court of Australia, authorising Blackstone to takeover Crown 
  • Blackstone will pay $13.10 per share in cash to Crown shareholders 

In case you were wondering, the Crown Resorts Ltd (ASX: CWN) share price is exchanging hands for the last time on the ASX today.

At the time of writing, the casino operator's shares are up 0.23% to $13.08.

Why are Crown shares ceasing to exist from tomorrow?

The Crown share price will be suspended from close of trading today following the company's latest update on its takeover.

In its statement, Crown advised that the Federal Court of Australia made orders approving the proposed $8.89 billion acquisition.

By way of a scheme of arrangement, Blackstone entity, SS Silver II Pty Ltd will become the new Crown owners after being green-lit.

Based in the United States, Blackstone is the world's largest investment firm with approximately $915 billion in assets under management.

Crown is expected to lodge an office copy of the court orders with the Australian Securities and Investments Commission (ASIC) today. This means that the scheme will become legally effective.

While the company's shares will be suspended, its subordinated notes under the code "CWNHB" will continue to be traded.

Blackstone will pay out $13.10 in cash per share to Crown shareholders which they will receive on 24 June.

Crown share price summary

A disastrous 2020/21 for Crown led its shares to record heavy falls over the past couple of years.

An AUSTRAC investigation along with issues regarding renewal of its gambling licence in Victoria plagued Crown shares.

However, its shares picked up steam in 2022 on the back of the proposed takeover offer.

Year-to-date, Crown shares are up almost 10%

On valuation grounds, Crown presides a market capitalisation of about $8.84 billion, with a tad over 677 million shares outstanding.

Should you invest $1,000 in Bank Of Queensland right now?

Before you buy Bank Of Queensland shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Bank Of Queensland wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 9 January 2025

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Mergers & Acquisitions

Multiple ASX share investors take on one another in a tug of war in a high rise building.
Mergers & Acquisitions

Up 116% in a year, Insignia Financial share price rockets again as bidding war heats up

Insignia Financial shares have just attracted takeover interest from a third suitor.

Read more »

Mining workers in high vis vests and hard hats discuss plans for the mining site they are at as heavy equipment moves earth behind them, representing opportunities among ASX 200 shares as nominated by top broker Macquarie
Materials Shares

Fortescue shares charge higher on Red Hawk takeover boost

This mining giant is moving closer to getting a takeover deal over the line.

Read more »

A man in a suit face palms at the downturn happening with shares today.
Mergers & Acquisitions

Guess which $8 billion ASX 200 stock just failed with a takeover bid

It has been an embarrassing outcome for the blue chip stock.

Read more »

Man pointing at a blue rising share price graph.
Mergers & Acquisitions

Guess which ASX All Ords tech stock just rocketed 30% on takeover news

The ASX All Ords tech stock is bucking the broader tech sell-off today to rocket higher.

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Mergers & Acquisitions

Fortescue shares slide on $254m Pilbara acquisition

This mining giant is making a new acquisition. Here's what it has announced.

Read more »

Mergers & Acquisitions

Myer shares race higher on 'overwhelming support' for merger

The department store expects the merger to create a stronger business.

Read more »

Multiple ASX share investors take on one another in a tug of war in a high rise building.
Mergers & Acquisitions

Insignia Financial shares: When will the bidding war end?

Bidding action for the ASX 200 financial stock continues today.

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Mergers & Acquisitions

How Rio Tinto shares could eclipse BHP in 2025, with a little help from Glencore

The financial rumour mill is abuzz about a potential mega merger for Rio Tinto.

Read more »