November 14, 2016 / 11:27 AM / in a year

Former CEO offers to buy Canadian gambling company Amaya

Nov 14 (Reuters) - David Baazov, the former chief executive of Amaya Inc, offered to buy the Canadian online gambling company in a deal valued at about C$3.48 billion ($2.56 billion).

The offer price of C$24 per share represents a premium of 30.9 percent to Amaya’s Friday close of C$18.34.

Baazov, who already owns about 17.2 percent of Amaya, including options, made the offer on behalf of a to-be-formed entity led by him, he said on Monday. ($1 = 1.3574 Canadian dollars) (Reporting by Arathy S Nair in Bengaluru)

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