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David Baazov Ends Bid for Amaya

Written by Gordon Jinn
David Baazov Ends Bid for Amaya

Former CEO and Amaya Inc. Founder David Baazov has withdrawn his $6.7 billion offer due to the too high asking price of some shareholders.

Amaya, owner of Poker Stars and Full Tilt is listed on the Nasdaq and Toronto Stock Exchange.

In a statement Baazov said: “During the discussions 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 put initially an offer of $6.7 billion together with the help of a group of fianciers. This is the second time a deal didn’t go through after William Hill plc and Amaya called off a deal back in October.

Baazov who took part in the purchase of PokerStars and Full Tilt for $5 billion in 2014, still owns a stake of 17.2% of the world’s largest online gaming company.

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Gordon Jinn

Founder and Head Casino Reviewer

The man who runs the show since day 1. Loves NetEnt games in particular. Had more luck in games then love. Favourite game is Twin Spin. What Gordon doesn't know about casino isn't worth knowing.