David Baazov, president, chief executive and chairman of Amaya, is to lead a takeover bid for the Canadian gaming company that owns PokerStars.
In a statement released today (Monday), it was announced that Baazov – who masterminded Amaya’s listing in 2010 – and a group of investors are in discussions concerning an all-cash bid.
The purchase price is currently estimated at CDN$21.00 (€13.8/$14.9) per common share, which represents a 40% premium on Friday’s closing price on the Toronto Stock Exchange.
“The particular form and structure of the transaction have not been determined, and no discussions have commenced between Mr. Baazov and Amaya with respect to any particular transaction,” the statement said.
“There is no certainty that the proposed transaction will proceed or be consummated.”
Baazov currently owns 24,564,047 common shares of Amaya, representing approximately 18.6% of the issued and outstanding common shares, and options entitling him to acquire 550,000 additional common shares.
Baazov founded Amaya in 2004 and led the company’s $4.9bn takeover of PokerStars and Full Tilt in 2014.
Meanwhile, bwin.party has confirmed that it has cancelled the trading of its shares on the London Stock Exchange’s main market for listed securities.
The move comes after the operator secured approval for the scheme of arrangement regarding its acquisition by GVC.