Wynn Resorts’ planned Crown Resorts takeover breaks down

Australia’s Crown Resorts and Wynn Resorts confirmed that they were having preliminary discussions about the former’s potential takeover worth around US$7.1b. However, the planned deal quickly fizzled after Wynn Resorts said they are terminating “all discussions with Crown Resorts concerning any transaction” due to “premature disclosure of preliminary discussions.” Some analysts regarded Wynn’s move as a power play and they are betting that the parties will soon resume talks.
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Wynn Resorts scraps Crown Resorts takeover after word leaks
The first one who blinks, loses

The Story

Australia’s Crown Resorts and Wynn Resorts confirmed that they were having preliminary discussions about the former’s potential takeover worth around US$7.1b. However, the planned deal quickly fizzled after Wynn Resorts said they are terminating “all discussions with Crown Resorts concerning any transaction” due to “premature disclosure of preliminary discussions.” Some analysts regarded Wynn’s move as a power play and they are betting that the parties will soon resume talks.

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