Amaya Inc.s founder, who took an indefinite leave this year amid a Quebec insider trading probe, has made a cash offer to take the Canadian owner of the PokerStars online gambling service private in a deal valued at about $6.7 billion, including debt.
David Baazov said in a U.S. exchange filing Monday that he and his financial backers are offering C$24 for each outstanding common share of the Pointe-Claire, Quebec-based company. Thats 31 percent above Fridays closing price of C$18.34 in Toronto. The shares surged as much as 18 percent to C$21.69 Monday, the biggest intraday rise since February.
Baazov is proposing the offer after William Hill Plc called off merger talks with Amaya last month, squelching a deal that would have created the …
Read the full article at: http://www.bloomberg.com/news/articles/2016-11-14/amaya-founder-baazov-offers-to-buy-canadian-owner-of-pokerstars