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Burswood Shares Rise

AUSTRALIA – As reported by the Australia News.com: "Shares in Burswood Ltd, operator of Perth's casino and hotel complex, rose 17 cents, or 13.5 per cent, to $1.43 (US$1.03) after Kerry Packer's Publishing and Broadcasting Ltd (PBL) last night made a takeover bid.

"PBL currently holds 15.6 per cent of Burswood Ltd, the operator of the Burswood International Casino Resort, and last night launched a bid which values the operation at $686 million.

"PBL is making an off-market bid of $1.40 a share for all the securities it does not already own in the company…"

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