New York-listed casino operator Wynn Resorts has made a move to acquire Australia’s largest casino operator Crown Resorts.
Crown confirmed Tuesday that it is in confidential discussions with Wynn regarding a potential change of control transaction, with Wynn proposing a AUD$10bn cash and stock offer, valuing Crown Resorts at $14.75 per share.
This represents a 26 per cent premium on Crown’s closing price of $11.72 per share on Monday.
The proposal is subject to a number of conditions including due [...]
