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Wynn ends deal talks with Crown Resorts

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Wynn ends deal talks with Crown 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)
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(Reuters) – Casino operator Wynn Resorts Ltd said on Tuesday 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.

Earlier in the day, Crown Resorts said Wynn made an A$10 billion (5.46 billion pounds) takeover approach for the company.

Wynn’s shares were last down 3.2 percent.

(Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)

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