ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

CWNCD Crown Ltd

12.48
0.00 (0.00%)
19 Jun 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
Crown Ltd ASX:CWNCD Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 12.48 12.00 12.48 0.00 01:00:00

Wynn Resorts Ends Talks With Crown Resorts After Premature Disclosure

09/04/2019 3:19pm

Dow Jones News


Crown (ASX:CWNCD)
Historical Stock Chart


From Jun 2019 to Jun 2024

Click Here for more Crown Charts.

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.

1 Year Crown Chart

1 Year Crown Chart

1 Month Crown Chart

1 Month Crown Chart