Amaya CEO interested in buying out other shareholders

MONTREAL -- The chairman and chief executive of Amaya Inc. (TSX:AYA) has told the company's board of directors that he's interested in buying out other shareholders for $21 per share in cash -- 40 per cent above the Friday closing price.

See Full Article

The company's board has set up a special committee, headed by lead independent director Dave Gadhia, to review any formal proposal brought forward by chairman-CEO David Baazov and any other alternatives.

Amaya, a Montreal-based company that owns PokerStars and various other online gaming businesses, didn't provide a reason for Baazov's proposal.

The company's stock hasn't recovered since plunging from above $31 in early November after it lowered its financial expectations for 2015.

Amaya's stock hit a 52-week low of C$13.73 last week and closed Friday at C$14.99 on the Toronto Stock Exchange.



Advertisements

Latest Economic News

  • Trump's SEC pick, a lawyer for Goldman, to face skepticism

    Economic CTV News
    WASHINGTON -- Goldman Sachs may be about to get another friend in Washington. Jay Clayton, a well-connected Wall Street lawyer who is President Donald Trump's pick to lead the Securities and Exchange Commission, is sure to face sharp questions from Democrats at his confirmation hearing Thursday over his years of work for Goldman and other financial giants. Source
  • Bell and Rogers to ask bars to pay more for sports packages

    Economic CBC News
    Bell and Rogers will soon ask sports bars to pay more for the right to broadcast big games, on top of what they pay for their existing television service. As first reported by Postmedia, the two media conglomerates are asking business subscribers across Canada to pay an additional levy of roughly $120 a month — depending on the size of the bar — on top of their existing cable bill for the rights to air sports channels that broadcast live sporting events such as the TSN, RDS and Sportsnet…
  • B.C. shellfish industry reels as norovirus sickens hundreds, forces closures

    Economic CTV News
    VICTORIA - The head of British Columbia's shellfish growers says the industry has been stunned by a mysterious norovirus that has forced the closure of seven coastal oyster farms and made hundreds of Canadians ill. Source
  • Starbucks Canada vows to hire at least 1,000 refugees

    Economic CBC News
    Starbucks Canada says it will hire at least 1,000 refugees over the next five years. The announcement Wednesday follows a statement in January by Starbucks CEO Howard Schultz that the company would hire 10,000 refugees around the world in the next half-decade. Source
  • Starbucks Canada sets goal to hire 1,000 refugees over five years

    Economic CTV News
    TORONTO -- Starbucks Canada has committed to hiring at least 1,000 refugees over the next five years, the coffee giant said Wednesday. The company said it will actively begin recruiting job candidates through the national organization, Hire Immigrants, which works with a network of municipal and provincial resettlement agencies. Source
  • Activists seek to intervene in Nebraska Keystone XL review

    Economic CTV News
    LINCOLN, Neb. -- Activists who want to derail the Keystone XL pipeline in Nebraska are again mobilizing to try to make their case to a small state commission that will decide the project's fate. Opponents on Wednesday will ask the Nebraska Public Service Commission to let them intervene in the case, allowing them to file legal briefs, cross-examine witnesses and present formal arguments alongside attorneys for pipeline developer TransCanada. Source
  • Sears Holdings shares tumble after company warns of 'going concern' doubts

    Economic CBC News
    Sears Holdings Corp's shares slumped 15 per cent on Wednesday as bondholders and investors questioned how long the retailer could remain in business, a day after the company flagged going-concern doubts. The disclosure raised concerns over the retailer's ability to restructure its debt load and stock inventory heading into the crucial 2017 holiday season. Source
  • EU warns of 'serious consequences' if no Brexit deal

    Economic CTV News
    BRUSSELS -- The European Union's chief Brexit negotiator warned Wednesday of "serious consequences for everyone" if Britain walks away without agreement from negotiations on leaving the 28-nation bloc. Outlining his plans in detail for the first time, Michel Barnier told lawmakers in Brussels that there could be "total uncertainty" if no deal is clinched by March 2019. Source
  • 'Unprecedented uncertainty' in high-end real estate market, Sotheby's says

    Economic CBC News
    Recent government regulations have created "unprecedented levels of uncertainty" for the high-end home market heading into the key spring buying season, Sotheby's International Realty Canada said in a report released Wednesday. Data compiled by the realtor in Canada's four largest real estate markets predicts little deviation from ongoing trends. Source
  • Enbridge cuts 1,000 jobs in wake of Spectra Energy takeover

    Economic Toronto Sun
    Enbridge Inc. is shedding another 1,000 jobs after its $37-billion takeover of Spectra Energy Corp. The Calgary-based pipeline firm said the cuts — which represent six per cent of its workforce — are part of the "synergies" it expects as the combined company full integrates over the coming months. Source