April 10, 2019 / 12:12 AM / 7 months ago

Shares in Australia's Crown tumble after Wynn walks from takeover talks

SYDNEY, April 10 (Reuters) - Shares in Australian casino operator Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd abruptly ended takeover talks overnight.

Wynn, the world’s second-largest casino operator, had proposed a buyout valuing Crown at A$10 billion ($7.1 billion), Crown disclosed on Tuesday, but it walked away from the deal after details of the offer became public.

Crown shares fell 10 percent to A$12.50 at the open of trade while the broader market opened 0.1 percent lower. (Reporting by Tom Westbrook and Paulina Duran; Editing by Michael Perry)

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