PokerStars. David Baazov, the Amaya founder, who stepped down as CEO after he was charged in an insider trading probe by Quebec’s securities regulator withdrew his $4.1 million bid efforts to take PokerStars private, the overall value of the bid came in around $6.7 billion including the debt.
“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,” Baazov said in the statement.
Originally Baazov proposed a C$24 a share cash bid, but that bid was changed when Dubai investor KBC denied involvement in the investment announcing that its purported backing for the deal was given without the firm’s knowledge or consent. Amaya plunged 5.3 percent to C$18.25 in Toronto after this situation, the biggest drop in a month, lowering its market value to C$2.66 billion ($2 billion). (READ SO. A CHRISTMAS WITH POKER STARS)
