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NEWS 21 December 2016

Baazov ends bid to buy Amaya

By Nicole Abbott
David Baazov, Amaya’s founder and former CEO, has ended his efforts to buy back the company, following a difficult initial bid.

Baazov announced that he had ended talks to buy Amaya because some shareholders were demanding too high a price for the parent company of PokerStars: “It became evident that the share price premium demanded by certain shareholders exceeded the price at which my investors and I would be willing to complete a transaction. After consulting with my advisors, I determined that the best course of action for me and Amaya would be for me to end my attempt to purchase the company.”

Baazov's bid to buy the company was complicated by the Dubai based company KBC Aldini Capital Ltd., who denied any involvement in the deal. After making a second bid for the company, shareholders expressed that they were not impressed by his offer and one shareholder, Jason Ader, expressed his belief that the company should refrain from any future affiliations with Baazov.

Although his bid to take over Amaya failed, Baazov still holds a considerable stake in the company (around 17%).
RELATED TAGS: Online | Casino | Mergers & Acquisitions
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