{"id":1032,"date":"2016-03-07T11:46:44","date_gmt":"2016-03-07T11:46:44","guid":{"rendered":"https:\/\/www.top10pokersites.net\/?p=1032"},"modified":"2016-03-07T11:46:44","modified_gmt":"2016-03-07T11:46:44","slug":"amaya-inc-awaits-david-baazovs-official-buyout-offer","status":"publish","type":"post","link":"https:\/\/www.top10pokersites.net\/news\/amaya-inc-awaits-david-baazovs-official-buyout-offer","title":{"rendered":"Amaya Inc Awaits David Baazov’s Official Buyout Offer"},"content":{"rendered":"
Canada-based gaming company Amaya Inc<\/a> is still waiting to receive a proposed buyout offer from its Chief Executive, David Baazov<\/strong>. The company has decided in the meanwhile to put in place restrictions on the management of the company and Baazov\u2019s access to information as a safeguard. <\/p>\n The company had announced on February 1 that Baazov along with a group of investors was intending to make an all cash offer to buyout the company. On February 9th we reported Amaya Inc had hired Barclays Capital Canada Inc<\/strong><\/a> to examine the unofficial proposal. <\/p>\n An update posted on its website on March 2 has revealed that the special committee of independent directors of Amaya had been formed to review the offer. Since then the committee has been taking a number of steps in light of the pending bid. Although Baazov is yet to submit a formal proposal, the committee has appointed international investment bank Moelis & Company LLC<\/strong> to arrive at an independent valuation of the company.<\/p>\n Additionally, the committee has issued guidelines and restrictions on the management of the company\u2019s operations. Amaya has also put in restrictions on the information that is available to Baazov, so as to limit his access to confidential information. Despite a great deal of speculation, the identity of investors with whom Baazov intends to make the bid is still under wraps. Playtech has however been widely discussed as a likely investor. <\/p>\n