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.
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.
