After nine months in suspension, the Freedom Foods Group Ltd (ASX: FNP) share price has returned to trade on Monday morning.

In early trade, the diversified food company’s shares were down a massive 94% to 18 cents.

The Freedom Foods share price has recovered a touch since then but is still down 91% to 28 cents at the time of writing.

Why was the Freedom Foods share price suspended for nine months?

Freedom Foods requested its suspension last year amid a series of significant accounting issues that led to the sudden exit of its CEO and CFO.

These issues ultimately led to the company having to revise and restate previous financial statements, culminating in a loss after tax of $174.5 million for FY 2020.

Freedom Foods share price returns

This morning the Freedom Foods share price is trading again after finalising its recapitalisation plans.

The company is raising up to $265 million via the issuance of unlisted, subordinated secured convertible notes. It has also restructured its existing senior debt facilities with HSBC and National Australia Bank Ltd (ASX: NAB).

The company’s capital raising will comprise an invitation to eligible investors to participate in a wholesale investor offer of up to $130 million of notes and a placement of up to $200 million of notes to its largest shareholder Arrovest.

Arrovest will scale back its investment to a minimum of $135 million depending on the level of participation under the wholesale investor offer.

These funds are being raised at $1.00 per note. After which, these notes will convert into shares calculated by dividing the outstanding face value of the notes (including accrued interest) by a notional share price of $0.70.

Subject to shareholder approvals, these notes can convert into shares at any time at a Noteholder’s election. However, notes will be mandatorily converted where 75% or more of Noteholders have elected to convert.

What will it do with the proceeds?

The proceeds will be used repay between $183 million to $233 million of the company’s existing debt. This is consistent with the requirements of the company’s senior lenders.

The funds will also provide a more flexible capital structure that management believes will better facilitate the ongoing financial and operational turnaround of the company.

And finally, the proceeds will provide incremental capital to support the company’s turnaround strategy.

More reading

• ASX quarterly rebalance: HUB24 joins ASX 200, Brainchip into ASX 300
• ASX 200 recovers strongly, Austal floats higher, Fortescue drops
• Here’s how Freedom Foods (ASX:FNP) performed in the first half

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Freedom Foods Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The conclusion of the February reporting season saw just under 79% of ASX 200 shares issue a dividend, according to CommSec. This is down from the long-term average of 86% but an improvement from the 69% seen back in August 2020.

Investors who purchase a company’s shares before the ex-dividend date are entitled to the next dividend payment. If its shares are purchased on or after that date, the previous owner of those shares will receive the dividend instead. A company’s share price typically falls on the ex-dividend date, to account for the dividend paid.

With more ASX 200 shares paying a dividend, here are the ones going ex-dividend this week. 

Carsales.com Ltd (ASX: CAR) 

Carsales delivered robust 1H21 earnings with an 18% increase in adjusted net profit after tax to $74 million. Its strong cash flow generation and balance sheet supported a 14% increase in interim dividends to 25 cents per share. 

The company will be going ex-dividend on Tuesday 23 March. The issued 25 cents per share interim dividend represents a yield of 1.37% based on its closing price on Friday. 

The Carsales share price is down 10% year to date. At their current $18.20 level, Carsales shares have slumped to an 8-month low. The recent weakness in the Carsales share price is in-line with the broader weakness and selloff for tech shares.

Cochlear Limited (ASX: COH) 

Cochlear’s earnings recovery journey has been slow, with only Q2 FY21 showing positive prior corresponding growth. In the company’s 1H21 results, sales revenue declined 4% to $742.9 million, with the first quarter down 8% and the second quarter up 7%. 

The improved tradition conditions and cash flow generation has seen a return of dividends for Cochlear. Its shares will be going ex-dividend on Thursday 25 March for an interim dividend of $1.150. Despite maintaining a dividend payout ratio of 60% of underlying net profit, this interim dividend only represents a yield of 0.50% based on its Friday closing price of $202.94. 

Healius Ltd (ASX: HLS) 

Healius provides facilities and support services to the healthcare sector with a focus on pathology, imaging and day hospitals. The company has seen a strong improvement in 1H21 earnings with underlying revenues up 16.7% to $953.5 million and net profit after tax up 190% to $75.6 million.

The company announced a fully franked dividend of 6.5 cents per share in line with its 50% to 70% payout ratio. Healius shares will go ex-dividend on Thursday 25 March. 

Seven Group Holdings Ltd (ASX: SVW) 

Seven owns a portfolio of industrial services, property, media and other investors. It delivered a flat 1H21 update with the group’s revenue up 4% to $2,357 million while net profit after tax was 3.1% lower to $246.7 million.

The company edged its interim dividend 10% higher to 23 cents per share fully franked. This represents a yield of ~1% based on its Friday close of $22.14. Seven shares also go ex-dividend on Thursday 25 March.

More reading

• ASX medical shares report promising half-year results
• These 4 ASX shares just got upgraded to a ‘buy’ rating
• Top brokers name 3 ASX shares to buy today
• Leading brokers name 3 ASX shares to sell today
• 2 strong ASX healthcare shares to buy this month

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia has recommended carsales.com Limited and Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Bapcor Ltd (ASX: BAP) shares will be on watch this morning. This comes after the company announced its plans to expand in Asia through partly acquiring Tye Soon. At Friday’s market close, the Bapcor share price finished the week at $7.40.

Let’s take a look at what the auto parts retailer announced.

Details of the takeover

The Bapcor share price could be on the move today as investors weigh up the company’s latest update.

According to this morning’s release, Bapcor has executed an agreement for a 25% interest in Tye Soon.

Under the deal, Bapcor will acquire 25% of the issued equity in Tye Soon for an amount of SGD$12.5 million. This is expected to help drive Bapcor’s strategy in increasing its presence across Asia where it sees potential growth opportunities.

The completion of the agreement is scheduled to take place sometime next month. In addition, Bapcor will nominate several directors to join the Tye Soon board.

Bapcor’s managing director and CEO, Mr Darryl Abotomey, commented:

The complementary expertise of Tye Soon and Bapcor brings a range of opportunities for both businesses to collaborate and grow their markets. Tye Soon has particular strengths in genuine parts and aftermarket parts distribution as well as an excellent store network in fast growing South East and North East Asian countries. Bapcor will work with Tye Soon to maximise the opportunities to grow their businesses in Asia and Australasia.

What is Tye Soon?

Founded in 1993, Tye Soon is a leading automotive parts distributor that operates across Southeast and North Asia markets. The company imports and exports a wide range of genuine parts as well as aftermarket parts.

Headquartered in Singapore, the company has one of the largest portfolios of top-tier global brands for automotive parts. This includes Mercedes Benz, Bosch, Hengst, GMB, Nozumi, Champion and others.

The group’s annual revenue is around SGD$200 million across its international operations.

Bapcor share price snapshot

Over the past 12 months, the Bapcor share price has gained about 90%, but is down close to 5% year to date. The company’s shares reached a multi-year high of $8.53 during October last year.

Based on current valuation grounds, Bapcor commands a market capitalisation of roughly $2.5 billion, with 339.4 million shares outstanding.

More reading

• 3 reliable ASX blue chip shares to buy
• Will the ASX share e-commerce boom last?
• 2 explosive mid-cap ASX shares to buy and hold
• 3 reasons why the Bapcor (ASX:BAP) share price could be a buy
• 2 ASX 200 shares to buy for income

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price could be on the move this morning.

This follows the release of an update on a class action brought against it in the United States during 2016.

What was the class action?

Back in 2016, ANZ confirmed that it was among 17 banks and two international brokerage houses that were named in a class action complaint launched in the United States by two US-based investment funds and an individual derivatives trader.

This related to allegations of the rigging of the bank bill swap rate (BBSW) and bank trading in the United States. The BBSW is an independent reference rate that is used for the pricing securities.

In 2017, ANZ acknowledged to ASIC that, during the course of trading on the BBSW market, a small number of traders attempted to engage in unconscionable conduct on ten dates between September 2010 and February 2012. The bank also admitted that it did not have in place adequate policies and systems to monitor trading and communications of its BBSW traders.

What was today’s update?

This morning ANZ announced that it has reached an agreement to settle the class action brought against it in the United States during 2016.

The settlement is without admission of liability. It also remains subject to negotiation and the execution of complete settlement terms, as well as court approval.

The good news for shareholders, and also the ANZ share price, is that while the terms of the settlement remain confidential, the financial impact of the settlement will not be material.

The bank has not commented on the settlement today. However, back in 2017, the company’s Chief Risk Officer at the time, Nigel Williams, commented on the issue.

He said: “We know our customers and the community expect better from us and we apologise for both the attempted unconscionable conduct and our inability to prevent or detect the behaviour.”

ANZ share price performance

The ANZ share price is up over 22% since the start of the year. Investors will no doubt be hoping this strong run can continue now this issue is behind the bank.

More reading

• Why the Commonwealth Bank (ASX: CBA) share price is on watch today
• ASX 200 Weekly Wrap: Inflation fears hold ASX down
• 2 high yield ASX dividend shares to buy
• Morgan Stanley bullish on the Westpac (ASX:WBC) share price
• Is the Commonwealth Bank (ASX:CBA) share price a buy or hold?

Motley Fool contributor James Mickleboro 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 Bruce Jackson.

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A surprising success story to emerge out of the last 12 months has been Australian jewellery and accessories retailer Lovisa Holdings Ltd (ASX: LOV). After a dramatic fall during the market crash last March, the Lovisa share price has rallied strongly since and is now back above its pre-COVID price and trading around new all-time highs.

Let’s take a look at how the retailer has been performing.

What’s been driving the Lovisa share price?

Company background

Lovisa sells on-trend, but affordable, jewellery and accessories. The company aims to deliver a unique in-store shopping experience, with Lovisa stylists providing customers with personalised styling tips and advice. Since launching its first brick-and-mortar store back in 2010, the company has expanded internationally, and now has a presence in 15 countries.

Financial performance

Lovisa’s first-half FY21 results were pretty weak overall. Revenues were down 9.8% versus the first half of FY20 to $146.9 million, while net profit after tax plunged 22.6% to $21.5 million. Despite this, the Lovisa share price surged on the day its results were released.

The results were heavily impacted by COVID-19 lockdowns in various geographies. Strict lockdowns in Victoria hurt sales over the first quarter, but once those restrictions eased, Lovisa reported a strong rebound in foot traffic. However, this was offset by market headwinds in the United States and Europe due to the continuing effects of the pandemic.

A positive sign for investors is that Lovisa has continued with its global expansion plans throughout the pandemic. Lovisa added 25 new stores during the six months ending 31 December 2020, bringing its global total to 460 stores. Fourteen new stores were opened in the US, as well as four in France and four in Australia.

The company also agreed to the acquisition of the European stores of German wholesaler Beeline in November 2020. Lovisa plans to convert around 90 Beeline stores located in six new European markets to Lovisa branding by May 2021. This will give Lovisa a significant presence in Germany, Switzerland, the Netherlands, Belgium, Austria and Luxembourg.

Outlook for FY21

Continued uncertainty around the impacts the pandemic will have throughout the remainder of FY21 make it difficult for the company to commit to a firm earnings outlook. However, Lovisa does note that trading over the first seven weeks of the second half of FY21 has continued to rebound in the Southern Hemisphere.

Despite challenging conditions persisting in the Northern Hemisphere, comparable store sales were up 12% overall during those first seven weeks, suggesting the possibility of a strong rebound over the second half should those green shoots continue to sprout.

Other retailers performing well

The Lovisa share price isn’t the only ASX retail share soaring to new highs, as investors try to price in a possible economic rebound over the next few months. Plus-size women’s clothing retailer City Chic Collective Ltd (ASX: CCX) has also had a stellar run over the last few months, as has Premier Investments Limited (ASX: PMV), the owner of the Just Jeans, Peter Alexander and Jay Jays brands.

More reading

• Why this ASX retail share is tipped as “tremendous”
• ASX fashion and beauty shares shine on half-year results
• 4 ASX retail shares that Morgans thinks are a ‘Buy’
• Why these ASX shares just raced to 52-week highs or better

Motley Fool contributor Rhys Brock has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The last few weeks has seen the ASX and US markets crucifying growth stocks in favour of value shares.

The S&P ASX All Technology Index (ASX: XTX) has lost more than 14% since its 10 February high, while the Nasdaq Composite (NASDAQ: .IXIC) has dropped 7% in a month – even after a slight bounce back this week.

The big theme driving this growth anxiety is the prospect of inflation, and its potential to raise interest rates.

“There are plenty of inflationists who have been forecasting an apocalypse for a dozen years. They are about to have their day in the sun,” said Nucleus Wealth head of investments Damien Klassen.

“And you can bet they will be appearing in financial media to proclaim vindication.”

Pre-COVID deflationary forces are still there

Klassen, posting on a Nucleus blog, posited that all the forces that suppressed inflation for 10 years before COVID-19 have not disappeared.

Those include:

• Technological advances driving prices lower
• Globalisation leading to competitive pricing
• High levels of debt, leading to constrained spending
• Increasing inequality, leading to higher income-earners saving more instead of spending
• Culturally low expectations of inflation, leading to less aggressive requests for pay rises
• Elevated unemployment driving low wage growth

As opposed to these deflationary forces, the drivers that will trigger inflation are all temporary phenomena caused by a one-off pandemic.

They include supply chain disruptions, structural consumption changes, supply chain changes, inventory rebuild, government stimulus and a lower US dollar.

Inflation could go one of two ways

Klassen proposed that one of two scenarios could play out.

The first path was if inflationary forces beat the deflationary ones.

“Inflation gets the upper hand, bond yields rise, and value stocks perform well. Growth stocks fall, quality stocks underperform,” he said.

The second option was if those pre-COVID deflationary forces reasserted themselves.

“Deflation/disinflation resumes after a short inflationary shock,” Klassen said.

“Bond yields fall, bond prices rise. Defensive stocks outperform, as does quality. Value stocks and financials underperform. Growth stocks are more complicated.”

Which is the more likely scenario? Klassen predicted the first scenario would occur, then transition into the second.

“Without stimulus, we will be back to the second scenario tomorrow,” he said.

“With the current stimulus, I’m thinking 6 to 12 months.”

Don’t sell your growth shares in a panic

Klassen’s forecast that deflation would eventually retake the mantle from inflation matches with what other experts have said this week.

The investment committee for T Rowe Price Group Inc (NASDAQ: TROW)’s Australian operations is already pivoting from value shares to growth.

“Central banks made it pretty clear that they want low yields to be maintained. For this reason, we are sceptical about the ability for interest rates to derail the recovery,” it reported.

“Recent actions taken by the Reserve Bank of Australia to buy government bonds to bring down long-term interest rates are a strong indication that monetary policy will remain accommodative.”

Chief executive of UK’s DeVere Group, Nigel Green, warned investors to not overdo the rotation out of growth into value.

“The danger is the massive hype surrounding rotation from growth stocks – those expected to grow sales and earnings at a faster rate than the market average – into value stocks,” he said.

“It should not be a case of either value or growth stocks.  A properly diversified portfolio needs to have both.”

More reading

• We’re betting on ASX growth shares: global fund

Motley Fool contributor Tony Yoo 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 Bruce Jackson.

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More reading

• Value vs growth shares: which will win?
• Why the Commonwealth Bank (ASX: CBA) share price is on watch today
• Started investing for retirement late? Here are 3 strategies for you
• Crown (ASX:CWN) share price on watch after receiving takeover approach
• Why the A2 Milk (ASX:A2M) share price is under pressure in 2021

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Kate O’Brien owns shares of Apple and Rio Tinto Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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A pre-market announcement has put the Commonwealth Bank of Australia (ASX: CBA) share price on watch in early trade.

Why is the Commonwealth Bank share price on watch?

Investors will be keeping an eye on the Aussie bank share after an update on its US-based class action. Commonwealth Bank this morning announced that it has reached agreement to settle the ongoing US Bank Bill Swap Reference Rate (BBSW) class action.

The class action commenced in 2016 in the New York District Court against Commonwealth Bank, other banks and brokers. Commonwealth Bank has today reached a settlement in relation to the US BBSW rate rigging allegations.

It becomes the latest of the Big Four banks to do so. Westpac Banking Corporation Ltd (ASX: WBC) settled its US class actions in October 2020 while Australia and New Zealand Banking Group Ltd (ASX: ANZ) reached a settlement yesterday.

What else has been happening for Commonwealth Bank?

The Commonwealth Bank share price will be one to watch in early trade following this morning’s update. Shares in the Aussie bank fell last week in a softer week of trade for the S&P/ASX 200 Index (ASX: XJO).

That share price slide came despite a big announcement from Australia’s largest bank. Commonwealth Bank announced it intends to launch its own buy now, pay later (BNPL) service to customers by mid-year. 

The service will be offered through any merchants who accept credit or debit card payments, enabling people to pay off their purchases (up to $1,000) in instalments, similar to other BNPL offerings.

That put shares like Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) under pressure late last week amid increased competition fears.

Foolish takeaway

The Commonwealth Bank share price will be one to watch in early trade after becoming the latest bank to settle 2016 class actions relating to BBSW products.

More reading

• Why the A2 Milk (ASX:A2M) share price is under pressure in 2021
• ASX 200 Weekly Wrap: Inflation fears hold ASX down
• 5 things to watch on the ASX 200 on Monday
• 2 blue chip ASX dividend shares to buy
• 2 high yield ASX dividend shares to buy

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you haven’t started investing in the ASX and you’re wondering whether it’s worth investing for your retirement, you’ve come to the right place. Here are 3 ASX investing strategies for Australian’s looking to retire in the next decade or so.

An important part of deciding whether to start investing for your retirement is planning how much you’ll need and for how long. Thankfully, the Australian Government provides a handy calculator to do just that.

Have you worked out how much you’ll need for retirement, and you’re not quite there yet? Or maybe you would like to live the high life throughout your retirement, but your savings and super won’t allow it.  

There can be a lot of value in a properly planned, long-term strategy to invest in ASX listed companies. Particularly right now, as low-interest rates and bond prices mean that cash savings accounts and bonds aren’t as prosperous as they once were.

Looking to begin investing for retirement later in life?

The ASX Australian Investor Study 2020 found that of Australians who hold shares in the ASX, 23% only began investing in the past two years. So, you are not alone as a new investor.

Further, 17% of Australians who invest in the ASX are already retired. There’s no deadline by which you must have your foot in the investing door.

3 approaches to save for retirement by investing 

It’s important to note that no investment is risk free and any advice within this article is general. You must take a personal approach to all your investments.

Create a low-risk portfolio and stick to it

If you’re just starting to invest later in life, you won’t want to risk your money more than necessary, especially if you don’t have a long time frame in which to earn back any losses. Therefore, it’s important to protect your nest egg as much as possible. That means diversifying and committing.

Commitment is important because the market is a wave. Your investment will most likely go up and down many times during its life. Don’t let that worry you. The ASX has a track record of general growth (of course, past growth doesn’t guarantee future growth), but particular industries and commodities don’t necessarily. That’s why diversity is important. If you have a little bit of money in many shares, you’re better protected from volatility than if you make big investments in a small number of shares.

Invest in industries that both yourself and experts believe will grow

This approach is slightly riskier than the previous one and research is key. If your plan for investing for retirement was to ‘set and forget’, this is not the strategy for you. That said, it might appeal to more hands-on investors.

It involves using your life experience, knowledge of certain industries and – once you’ve ascertained that some reputable experts agree with you – investing into that which you know best. This approach requires some balance. You need to have found a niche, but you likely want that niche to be relatively stable. For instance, someone who is knowledgeable on the lithium-ion battery technology and mining sectors may have been able to predict its recent value surge and capitalise on it.

One easy way to invest in a niche is to find a relevant exchange-traded fund (ETF) that tracks a particular sector.

Remember: No matter how sure you are, you’re still probably safer to diversify your investments and EFTs offer a level of diversification over investing in individual stocks.

Invest in dividend-paying shares

If neither previous option sounds like your cup of tea, there is a third approach. Investing in dividend shares is not a clear-cut growth strategy, but if done right may support you through retirement.

Dividends are a proportion of a company’s profits that are paid back to shareholders. Because that money isn’t reinvested into the company, it tends to slow down growth. That said, growth or loss is never guaranteed in the share market, but neither is a dividend. Most dividend-paying companies pay out a dividend every 6 or 12 months, but they can pay more or less often. In fact, they don’t have to pay at all. Also, the amount that reaches your pocket from dividends is likely to be unstable as it reflects a company’s profits and whims.

You can plan to invest in enough dividend shares to pay a sort of ‘wage’ during retirement. If that sounds like it would work for you, you probably want to invest in companies with a strong history of paying out regular, increasing dividends. That way you’re less likely to get caught out with inflation later on.

More reading

• Crown (ASX:CWN) share price on watch after receiving takeover approach
• Why the A2 Milk (ASX:A2M) share price is under pressure in 2021
• 2 ASX REITs to grab (and 2 to avoid): fundie
• ASX 200 Weekly Wrap: Inflation fears hold ASX down
• 2 exciting ASX growth shares to buy now

Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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The Crown Resorts Ltd (ASX: CWN) share price will be one to watch closely on Monday.

This morning the casino and resorts operator confirmed that it has received a takeover approach.

What did Crown announce?

Crown announced that on Sunday it received an unsolicited, non-binding, and indicative proposal from a company on behalf of funds managed and advised by The Blackstone Group and its affiliates.

According to the release, Blackstone has made an offer to acquire all of the shares in Crown by way of a scheme of arrangement at an indicative price of $11.85 cash per share. This indicative price will be reduced by the value of any dividends or distributions declared or paid by Crown.

Blackstone’s offer represents a 20.1% premium to Crown’s last close price of $9.86. Though, it is worth noting that it is still lower than its pre-COVID levels.

The release notes that the proposal still is subject to a number of conditions. These include due diligence, the arrangement of debt finance, a unanimous Crown Board recommendation and a commitment from all Crown Directors to vote in favour of the proposal, approval from Blackstone investment committees, and the execution of a binding Implementation agreement.

The latter incorporates several terms and conditions including a condition that Blackstone receive regulatory confirmation that a Blackstone-owned Crown is considered a suitable person to continue to own and operate its gaming licences and other gaming-related approvals.

What now?

The Crown board has advised that it has not yet formed a view on the merits of the proposal but will now start its assessment. This will take into account the value and terms of the proposal and other considerations.

Crown’s board will also engage with relevant stakeholders including regulatory authorities.

In light of this, it has advised shareholders that they do not need to take any action in relation to the proposal at this stage. It also warned that there is no certainty that the proposal will result in a transaction.

More reading

• 5 things to watch on the ASX 200 on Monday
• Why ASX 200 hospitality shares could be about to enjoy a boost
• Crown (ASX:CWN) share price facing double Royal Commission trouble
• Exploring the golden window of opportunity for ASX ESG investors
• The Crown Resorts (ASX:CWN) share price shakes off Moody’s credit decision

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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