Drop Baazov’s takeover bid: SpringOwl CEO

Wednesday 7th of December 2016

Investor Jason Ader has urged Amaya’s board to reject David Baazov’s takeover bid, citing the lack of transparency and the information about Baazov’s sources of funding, local media reports.

The CEO of SpringOwl, Ader, which holds over 2 percent of Amaya shares, said it was “time for the company to fully move on from the undue influence” of Baazov.

He said SpringOwl was “not supportive of the self-interested, unsubstantiated potential transaction” which, given Baazov’s “current legal situation and the lack of clarity … has significant risks to closing.”

He suggested that the gaming group would be better off dropping Baazov’s bid.

In late November, one of the four investment firms Bazoov claimed to be backing his bid said it had never heard of Amaya.

Dubai-based KBC Aldini Capital Ltd. said the firm had no knowledge of the deal, and did not give consent.

Baazov later admittedhe had been hoodwinked by someone claiming to represent the company, while another bidder dropped off later without any explanation.

Baazov later confirmed that two Hong Kong-based investors would be upping their support for his $4.1 billion bid to take the company private.

Mergers & Acquisitions Interactive Gaming Bid Takeover