Amaya CEO makes non-binding offer to buy the company

By Alex Hammond
Amaya Inc., the parent company of PokerStars and Full Tilt Poker, has confirmed that the company’s CEO and Chairman David Baazov has made a non-binding indication to acquire the company.

Indications are that Baazov intends to make an all-cash proposal to acquire the company at a price currently estimated at C$21.00 per common share.

Amaya’s board of directors has established a special committee to address any potential share purchasing offers that might arise. The committee, which will be chaired by Amaya’s Lead Independent Director David Gadhia, would consider Baazov’s offer were it to materialise as well as any other proposals from alternative sources.

Despite its formation, Amaya have been keen to stress that special committee have not received any formal offer from Baazov and are not soliciting one. There is also no current commitment that from Baazov that a formal offer will definitely be forthcoming.

Amaya shareholders have been informed that they do not need to take any action with respect the potential proposal yet. Updates will provided to shareholders if and when necessary in accordance with applicable securities law.

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