As Amaya Inc. CEO David Baazov considers turning the publicly listed online gambling giant into a private business, questions remain as to whether the deal will go through.
Lecturer Philip King, a lawyer who teaches Canadian business law at Ivey, told the Financial Post shareholders might hold out for a better offer and the deal could fizzle out. If the plan moves forward, shareholders could eventually vote on whether to sell their stock at $21, which is a premium of about 40 per cent compared to what it was before the plans were announced.
“If the opinion is that this company is worth more than what it’s trading at, it’s quite possible that shareholders can say that this guy’s either going to sweeten his offer or someone else is going to come along with a better offer,” said King.
Related Articles
