‘End of an era’ for Packer family

The Motley Fool’s Scott Phillips says it’s the end of an era for the Packer family in Australia after Crown accepted a takeover bid from private equity giant Blackstone. “The Packer family have been involved in major Australian businesses for decades,” Mr Phillips told Sky News Australia. “Of course James’ father Kerry and his father Sir Frank Packer going back literally decades. “This is the end, at least for now, of major Packer involvement in listed or unlisted companies.”