Shares in Australias Crown tumble after Wynn walks from takeover talks

crown takeover


buyout although some investors appeared to be hoping for a change of heart. 5 percent under Tuesdays closing price while the broader market fell 0. In a tersely worded statement the Las Vegas casino giant said it was ending all discussions with Crown Resorts. Following the premature disclosure of preliminary discussions Wynn said in a written statement released on Tuesday in the US. Crown notes that Wynn has announced that it has terminated all discussions with Crown concerning any transaction Crown said. Wynns backtracking illustrates how media leaks of deal talks can test the resolve of potential acquirers. Wynn Resorts Ltd runs several casinos in the United States and Macau. Crown revealed on Tuesday it was in confidential discussions with Wynn about a takeover. Following the premature disclosure of preliminary discussions the company said in a statement on Tuesday morning in the US

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