"Amaya Inc. confirmed today that discussions with its former Chief Executive Officer, David Baazov, regarding the offer to acquire Amaya by an entity to be formed, have terminated,” went the complete text of the Amaya bulletin, without additional comment.
Baazov himself issued a separate statement confirming the end of the possible deal. "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,” he said.
The blind reference to "certain shareholders” appears to be a swipe at one of Amaya’s minority shareholders, New York-based Jason Ader’sSpringOwl Asset Management investment group. Ader recently took both Baazov and Amaya to task for considering such a deal, especially in light of the recent problems with Baazov’s bid and with Baazov’s ongoing legal issues.
It remains to be seen whether Baazov will regroup and
target a different online gaming company, assuming he and Amaya eventually and
totally part company. Baazov appears to have maintained his close
relationships with the two Chinese investment groups, Head and Shoulders Global
Investment Fund SPC and Goldenway Capital SPC, that backed his failed bid for
Amaya.
Source: GMB
