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Amaya shares rocket after founder offers to take it private

Monday, November 14, 2016 9:09
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(Before It's News)

Amaya Inc (TSE:AYA) shares were up 16.6% at $21.38 on Monday after its founder David Baazov offered to take the company private in a deal worth around $6.7bn, just weeks after merger talks with UK bookmaker William Hill (LON:WMH) fell apart.

According to a filing to the Toronto stock exchange, David Baazov and his financial backers are offering C$24 for each outstanding common share for the Quebec-based company in an equity-and-debt deal. If accepted, the offer price would represent a 31% premium on Amaya’s closing share price on Friday.

Amaya owns Pokerstars and Full Tilt.

Story by ProactiveInvestors

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