Just one day after Crown Resorts’ announcement in relation to A$10 billion ($7.1 billion) takeover offer by Wynn Resorts, Las Vegas based Wynn Resorts Ltd announced it terminated takeover discussions with Australia’s Crown Resorts.
“Following the premature disclosure of preliminary discussions, Wynn Resorts has terminated all discussions with Crown Resorts concerning any transaction,” Wynn said.
Crown Resorts ASX Annoucement :
”Crown Resorts Limited (ASX: CWN) (Crown) refers to its announcement yesterday in relation to confidential discussions with Wynn Resorts, Limited (Wynn) regarding a potential change of control transaction following approaches by Wynn to Crown. Crown notes that Wynn has announced that it has terminated all discussions with Crown concerning any transaction.”