S&P/ASX 200 (INDEXASX:XJO) rallied to its intra-day high of 6,229 just before 2.00pm but has given it back to be down 0.1% to 6,213 at 2.54pm.
Shares in Crown went into a trading halt this morning so it could disclose the acquisition proposal valued at $14.75, comprising 50% cash and 50% Wynn shares.
Crown shares closed yesterday at $11.74 and came back on at $13.79 after the halt was lifted at 10.29am.
Shares hit a high of $14.37 but have since drifted back to $14.05 mid-afternoon.
Midday: S&P/ASX 200 opens flat and remains flat at midday, Crown receives proposal
ASX 200 opened flat at 6,221 and trended 0.3% lower in the first hour finding support at 6,203, which it bounced off to be up 0.1% at 6,226.2 at 12.26pm.
Pre-market: S&P/ASX 200 futures point to positive open
ASX 200 futures are pointing to a slightly positive open after mixed results from the US indices.
The S&P 500 Index (INDEXSP:.INX) was up 0.10% and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished up 0.19% but the Dow Jones Industrial Average (INDEXDJX:.DJI) was down 0.32%.
Boeing ranks 24th in weighting in the S&P 500 index.
The Dow snapped a 3-day winning streak today, posting its worst day in more than 2 weeks. Boeing and GE led the decline in the Dow, but the S&P 500 and the Nasdaq Composite both closed up. https://t.co/Ju16qXNeWq pic.twitter.com/jI2eStfCbi— CNBC (@CNBC) April 8, 2019