Another big decision in the poker world. Few months ago it all started with informations that David Baazov would be trying to purchase Amaya Gaming, and the official request went out in November to purchase the shares at C$24 per single share. Now it seems Baazov has backed out of talks with Amaya Gaming and will no longer be pursuing the acquisition of the company at all.
Baazov has stated that talks have ended with Amaya Gaming due to shareholders demanding a higher bonus for purchase, which he refused to pay. The deal presented by Baazov had a value of around $4.1 billion, but with the things like the debts and transactions costs accounted, the amount goes higher all the way to $6.7 billion.
After Baazov presented the deal, he had to announce that he would be seeking new funding for a portion of the offer based on KBC Aldini Capital denying their involvement in the deal. KBC was mentioned as one of the financial backers for Baazov along with Goldenway Capital, Head & Shoulders Global Investment Fund and Ferdyne Advisory. Reportedly, $3.65 billion of the deal would be financed by Baazov and his four investors.
With the backers gone it probably means that Baazov is completely done with the plans to completely overtake Amaya Gaming. Baazov is still the largest shareholder of the company at 17% stake with Amaya closing yesterday in Toronto with C19.38.
|