Blackstone buyout bid values Aussie resort at $6.2B

Shares in Australia’s Crown Resorts Ltd. rose more than 20% after its announcement Monday that Blackstone Group Inc. has offered a buyout that values the beleaguered casino-hotel complex at $6.2 billion. The value is down from a year ago but holds out relief from government pressure on Crown, which has been denied a license for expansion amid allegations of organized crime ties.