1. After leak, Wynn ends takeover deal with Crown Resorts after deal talks leaked

    After leak, Wynn ends takeover deal with Crown Resorts after deal talks leaked
    • The world’s No. 2 casino operator, Wynn Resorts, ends deal talks with Crown Resorts after Wynn’s $7.1 billion takeover offer is leaked.
    • The deal would have been Australia’s biggest M&A transaction this year. The proposal had an implied value of Australian 14.75 dollars per share, half in cash and half in Wynn shares.
    • Before news of the deal leaked, Wynn had seen its stock rise more than 46% year to date. After news of the deal termination, the stock fell more than 3%.
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    1. I was brand new to this board and this board could not focus on that discussion.
    2. At the time we believe we believe this was the right business decision.
    3. I changed that view because of what's happened in the last 14 months, nothing short of remarkable.
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