February 1, 2016 / 2:01 PM / 2 years ago

BUZZ-Amaya Inc: CEO proposes to buy company

1 Min Read

** U.S.-listed shares of Canadian operator of online gaming website PokerStars up 23 pct at $13 premarket

** Operator of online gambling website PokerStars said it received a non-binding proposal from Chief Executive David Baazov to buy the company for about C$21 per share.

** Offer is at a 40 pct premium to stock's Friday close of C$14.99

** Offer values Amaya at C$4.39 bln ($3.13 bln) on a fully diluted share basis and at about C$2.8 billion, based on its basic share count

** Up to Friday's close, Amaya's Toronto-listed stock had fallen 55 pct in the last 12 months, while its U.S.-listed stock had fallen 60 pct

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