For the past few days, all eyes have been on William Hill and Amaya Gaming in regards to a potential merger. Both companies were considering coming together but now, these discussions seem to have ended. Amaya Gaming has confirmed that both companies are no longer considering a merger.
In a statement, Amaya Gaming, the parent company of PokerStars, said that the discussions have concluded and both companies have determined that they will no longer be in pursuit of a merger. According to Amaya, a special committee consisting of independent directors of the board completed a strategic alternatives review and came to the decision that the deal was not the best move.
In the statement, Chairman of Amaya Divyesh Gadhia commented that the company is strong and growing, with an experienced management team and a proven strategy to be able to deliver profitable growth and shareholder value. Amaya worked with the financial advisors of the company to evaluate several strategic alternatives to be able to maximize the value of shareholders and determined that the company should remain independent. The company feels this decision will be in the best interest of shareholders at this time.
Amaya also revealed that David Baazov, the former CEO of the company, continues to have interest in acquiring the outstanding shares of Amaya. While Amaya has yet to receive an offer from Baazov, the company does believe that an offer from the former CEO has the capability of resulting in a deal. The Board will consider an offer from Baazov according to the statement, or any other party for that matter. For now, the company has concluded their review of strategic alternatives.
888 Holdings and the Rank Group were interested in acquiring William Hill but their $4.2 billion offer was not approved. The merger discussions between William Hill and Amaya began just a short time after this deal was rejected.
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