Update on potential Amaya sale. Itai Freiberger installed as new CEO of 888. Phil Hellmuth calls Donald Trump a LAG and says key to beating the frontrunner is patience. And more.
Update on potential takeover of Amaya by CEO David Baazov
Amaya Gaming has issued an update on the potential takeover bid current CEO David Baazov is contemplating. According to the company, they have taken the following actions (despite no offer having been made):
- Engaged Moelis & Company LLC to provide an independent valuation of Amaya’s securities in connection with any offer that may be made by Mr. Baazov. […]
- Engaged with Mr. Baazov in settling the terms under which confidential information regarding Amaya would be made available to Mr. Baazov’s group for the purposes of evaluating and possibly making an offer.
- Implemented processes and restrictions and established guidelines regarding the ongoing management of Amaya in the context of a potential offer for Amaya by a group led by Mr. Baazov. […]
- Determined, in consultation with the Audit Committee of the Board of Directors, that in view of the potential offer that may be forthcoming from Mr. Baazov, and the fact that the Special Committee’s financial advisor and the independent valuator have commenced their review process, Amaya will not be providing guidance with respect to its 2016 financial performance in conjunction with the release of its financial results for the fourth quarter and year ended December 31, 2015.
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