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Star shares plunge as investors doubt validity of proposed takeover by Hard Rock https://t.co/uZrYA3hMLK https://t.co/noTiVmrwiF
Star Entertainment shares fell amid confusion over the validity of a takeover proposal that Star said came from a group backed by Hard Rock Hotels & Resorts (Pacific) https://t.co/XIQxT7GccH
Australian casino operator Star soared 23%, lifting the firm's market value to A$1.6 billion ($1.1 billion), after approaches from suitors including a Hard Rock Hotels & Resorts consortium https://t.co/EbubTOe3ET
A consortium led by Hard Rock Hotel & Casino is considering a bid for Australian casino operator Star Entertainment, according to the Australian Financial Review. Star Entertainment has confirmed receiving inbound interest from several parties, including a regional entity of Hard Rock International. This news led to a 23% rise in Star's share price, lifting its market value to A$1.6 billion ($1.1 billion). However, shares later fell amid investor doubts about the validity of the takeover proposal. Star Entertainment stated there have been no substantive talks so far.
