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msg #147251
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4/9/2019 7:57:30 AM
https://www.marketwatch.com/story/wynn-resorts-confirms-discussions-with-crown-resorts-regarding-potential-buyout-deal-2019-04-09?mod=newsviewer_click
TOMI
KILGORE
REPORTER AND EDITOR
Wynn Resorts Ltd. WYNN, +2.77% confirmed Tuesday that it was in discussions with Crown Resorts Ltd. CWN, +19.68% CWLDY, -2.05% 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 SPX, +0.10%
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