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Australia's Crown says Blackstone offer undervalues company

May 17 (Reuters) - Australia’s Crown Resorts Ltd on Monday said U.S. private equity giant Blackstone Group Inc’s takeover offer undervalued the casino operator and would not be in the best interest of its shareholders.

Crown cited uncertainty around regulatory approval conditions as a reason for rebuffing Blackstone’s approach. (Reporting by Anushka Trivedi in Bengaluru; Editing by Christopher Cushing)

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