News: CWN Crown Resorts Confirms Discussions With Wynn Regarding A Potential Takeover

April 9 (Reuters) - Crown Resorts Ltd (CWN) :

• DISCUSSIONS WITH WYNN RESORTS
• CROWN BOARD HAS NOT YET CONSIDERED MOST RECENT PROPOSAL FROM WYNN
• CROWN RESORTS SAYS PROPOSAL CONTEMPLATES AN ACQUISITION OF CROWN BY WYNN VIA SCHEME OF ARRANGEMENT FOR A COMBINATION OF CASH AND WYNN SHARES
• CONFIRMS THAT IT IS IN CONFIDENTIAL DISCUSSIONS WITH WYNN REGARDING A POTENTIAL CHANGE OF CONTROL TRANSACTION FOLLOWING APPROACHES TO CROWN BY WYNN
• PROPOSAL CURRENTLY CONTEMPLATES ACQUISITION CONSIDERATION (50% CASH AND 50% WYNN SHARES) WITH AN IMPLIED VALUE OF A$14.75 PER SHARE
• DISCUSSIONS BETWEEN CO, WYNN AT PRELIMINARY STAGE; NO AGREEMENT REACHED BETWEEN PARTIES IN RELATION TO STRUCTURE, TERMS OF TRANSACTION

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