Shares in Australia's Crown Resorts Ltd tumbled on Wednesday after U.S. cas...
SYDNEY - Shares in Australia’s Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd quit discussions for a A$10 billion buyout, although some investors appeared to be hoping for a change of heart.
The indicative offer for Australia’s biggest casino operator had been viewed by investors as opportunistic but also only the beginning of a drawn-out pursuit. That is a lot less likely now. At A$12.86, the stock remained almost 10 percent higher than its last price before Wynn’s approach was disclosed, suggesting hope for a deal had not completely evaporated.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wynn Resorts Scraps $7 Billion Takeover Talks With Australian Casino Operator
Read more »
Wynn Resorts executives concealed sexual misconduct accusations against Steve Wynn, gaming regulators sayFormer executives at Wynn Resorts covered up years of sexual misconduct allegations against billionaire casino mogul Steve Wynn, according to a report by the Massachusetts Gaming Commission
Read more »
Wynn terminating discussions with Australia's Crown Resorts after deal talks leakedThe world's No. 2 casino operator Wynn Resorts has terminated deal talks with Crown Resorts after those discussions were leaked.
Read more »
Wynn Resorts Ends Talks With Crown Resorts After Premature DisclosureWynn Resorts said it has walked away from talks on a potential $7.1 billion deal with Crown Resorts, citing the Australian company’s premature disclosure of the discussions.
Read more »
Wynn makes $7.1 billion buyout play for Australian casino giant CrownAustralian casino giant Crown Resorts said on Tuesday it had received an indicat...
Read more »
Australia's Crown Resorts gets $7.1 billion takeover approach from Wynn ResortsAustralia's Crown Resorts said on Tuesday it was in talks with Las Vegas ri...
Read more »
Wynn Resorts Bids $7.1 Billion for Australia’s Crown ResortsWynn Resorts of Las Vegas offered to buy Australia’s Crown Resorts for about $7.1 billion, in the latest sign that global gambling companies are looking to get bigger as they battle with online gaming.
Read more »
Wynn Resorts confirms 'discussions' with Crown Resorts regarding potential buyout dealWynn Resorts Ltd. confirmed Tuesday that it was in discussions with Crown Resorts Ltd. regarding a potential buyout of the Australia-based gaming giant. Wynn's statement comes after Crown said overnight the companies were in "confidential discussion" about a potential deal, with reports saying Wynn made a bid worth about 10 billion Australian dollars, or the equivalent of roughly $7.1 billion. Crown's stock soared 20% in overseas trading, while Wynn shares slipped 0.6% in light premarket trade. Wynn said in a filing with the SEC Tuesday that there is "no assurance that these discussions will result in a transaction," and that it does not intend to comment further. Wynn's stock has soared 46.5% year to date through Monday, compared with a 15.5% gain for the S&P 500 .
Read more »
Wynn splurges on a new beginning Down UnderThe casino giant wants to buy Australia’s Crown Resorts for $7 bln. Both companies are on the rebound after break-ups with billionaire bosses Steve Wynn and James Packer, and seeking fresh starts. But a hefty 26 pct premium bets too many chips on the return of big spenders.
Read more »
Factbox: Synergies and opportunities in Wynn's $7.1 billion buyout play for CrownLas Vegas's Wynn Resorts has made a $7.1 billion takeover offer for Austral...
Read more »