Australia's Crown Resorts gets $7.1 billion takeover bid from Wynn Resorts

FILE PHOTO - The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia, June 13, 2017. REUTERS/Jason Reed/File Picture - Copyright Jason Reed(Reuters)

By Reuters

Published on 09/04/2019 - 04:04•Updated 25/04/2024 - 01:11

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(Reuters) - Crown Resorts said on Tuesday it is in talks with Las Vegas-based Wynn Resorts about a A$10 billion ($7.1 billion/£5.5 billion) cash-and-stock takeover proposal by Wynn for the Australian casino operator.

The proposal has an implied value of A$14.75 a share, half in cash and half in Wynn Resorts shares, Crown said in a statement to the Australian Stock Exchange.