Wynn Resorts is looking to buy Australia’s Crown Resorts for $7.1 billion. But, as KatrinaHamlin explains, the hefty 26 percent premium on offer stakes way too much on the return of big spenders
Crown Resorts is in talks with Wynn Resorts about a A$10 billion cash-and-stock takeover proposal by Wynn for the Australian casino operator, the company said in a
filing to the Australian Stock Exchange on April 9. The proposal has an implied value of A$14.75 a share, half in cash and half in Wynn shares, Crown said in the statement.
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