Amaya Confirms Baazov Offer To Purchase (update)

Former CEO puts his money where his mouth is

Amaya Inc. confirmed receipt of a non-binding all cash offer from former chief executive officer David Baazov to acquire the company.
The offer of CAD$24.00 per common share was confirmed in a press release late Monday, detailing the inclusion of a USD$200 million deposit into escrow upon execution of a definitive agreement in respect of a potential transaction.
The deposit would be converted into a one-year structurally subordinated, interest bearing debt obligation to fund a portion of the USD$400 million deferred purchase price for Amaya's acquisition of the Rational Group in August 2014, and be convertible into equity following the closing of a potential transaction.

Online Casino News Courtesy of Infopowa

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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 astrophography.

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