Amaya Special Committee In Action (update)
By Casinomeister, Last updated Mar 4, 2016
In anticipation of acquisition proposals from interested parties
In an update following the announcement of chief executive officer David Baazov's intention to make an offer for Amaya Inc., the board has formed a special committee to conduct an independent review of alternatives.
Baazov notified the board at the end of January 2016 of his intention to make a proposal to acquire Amaya for C$21 per common share in cash but has yet to submit a formal offer.
The Special Committee has appointed Barclays Capital Canada Inc. to act as financial advisor under a broad mandate to assist in considering any proposal that may be forthcoming, as well as other alternatives that may become available to Amaya.
In addition, Moelis & Company LLC has been engaged to provide an independent valuation of Amaya's securities in connection with any offer that may be made by Baazov and has settled terms in which confidential information regarding Amaya, for the purposes of evaluating and making an offer, will be made available to Baazov's group.
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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
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