Wynn Resorts Ends Talks With Crown Resorts After Premature Disclosure
09 Abril 2019 - 9:19AM
Noticias Dow Jones
By Colin Kellaher
Wynn Resorts Ltd. (WYNN) on Tuesday said it has walked away from
talks on a potential deal with Crown Resorts Ltd. (CWN.AU), citing
the Australian company's premature disclosure of the
discussions.
Crown said earlier Tuesday that the Las Vegas gaming giant made
a takeover offer worth about 10 billion Australian dollars (US$7.1
billion), at A$14.75 a share.
Wynn later confirmed in a filing with the U.S. Securities and
Exchange Commission that it was holding talks with Crown on a
potential transaction, but it cautioned that no agreement has been
reached on the structure, value or terms of a deal.
But less than four hours later, Wynn said there will be no
deal.
"Following the premature disclosure of preliminary discussions,
Wynn Resorts has terminated all discussions with Crown Resorts
concerning any transaction," the company said in a one-sentence
statement.
Crown shares surged 19.7% to close at A$14.05 in Australia on
Tuesday.
Shares of Wynn slipped 3.9%, to $139.20, in early U.S. trading
Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 09, 2019 10:04 ET (14:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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