Amaya CEO looks to buy-out company with all-cash offer

Amaya’s chairman and CEO is looking to take the world’s largest online poker company private in a $2.8 billion dollar bid according to a recent release by the company.

David Baazov, the chairman and CEO of Amaya announced that he, together with a group of investors intends to make an all-cash proposal to Acquire Amaya at a purchase price estimated at C$21.00 (US$15.07) per common share.

At the time of the release, there had not yet been any discussions in respect to the particular form and structure of the transaction, and thus there is no certainty that the proposed transaction will proceed, according to the release.

David Baazov currently owns 24,564,047 common shares of Amaya, approximately 18.6% of the issued and outstanding common shares.
Shareholders of Amaya do not need to take any action with respect to any potential proposal at this time, the release adds.