Amaya Taps Barclays to Reviewing a Pending Buyout Proposal from CEO
Canadian company Amaya Inc, who is an operator of the online gambling website Poker Stars, said that a special committee of their board has contacted Barclays to review an all-cash offer from their Chief Executive David Baazov.
Earlier in February, Amaya disclosed that they had received From Mr Baazov, a non-binding proposal to take the company private for a C$21 a share.
A special committee appointed has engaged Blake, Cassels & Graydon as their legal advisor to deal with the notice received from Mr. Baazov.
Spoksperson for the special committee said that they have not yet received a formal bid as yet, that there are no assurances that Mr. Baazov's notice will eventually result in a formal bid or offer.
Mr. Baazov has indicated in a recent regulatory filing that he had recently engaged in preliminary discussions with some potential investors and it was his intention, subject to some contingencies, for him to submit a formal proposal.