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Canada's Amaya and Britain's William Hill end merger talks

Talks fell apart after a leading investor in bookmaker William Hill opposed the merger

Reuters  |  London 

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talks between Canadian online gambling company and British bookmaker have ended after the two firms concluded they would be stronger on their own.

Amaya, operator of online gambling website PokerStars, and announced earlier this month that they were in talks to combine in a of equals but the deal was thrown into doubt days later when a leading investor in the British bookmaker said it would oppose any combination.

The Canadian company said it had decided it could best deliver shareholder value by remaining an independent company, while said it had decided to walk away after canvassing its biggest investors.

The talks mark the latest failed deal for after it rejected a takeover approach from online rival 888 and casinos and bingo halls operator Rank Group in August.

said trading had continued to be positive in the second half of the year and it expects operating profit for 2016 to be at the top end of the previously guided range of 260 million pounds ($323 million) to 280 million pounds.

Amaya said it had been informed by its former chief executive, David Baazov, that he continued to be interested in acquiring all of the outstanding shares of Amaya, but that the firm had not received an offer capable of resulting in a transaction.

Amaya said in February it had received a non-binding proposal from Baazov to take the company private, but the formal bid never came.

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Canada's Amaya and Britain's William Hill end merger talks

Talks fell apart after a leading investor in bookmaker William Hill opposed the merger

Talks fell apart after a leading investor in bookmaker William Hill opposed the merger
talks between Canadian online gambling company and British bookmaker have ended after the two firms concluded they would be stronger on their own.

Amaya, operator of online gambling website PokerStars, and announced earlier this month that they were in talks to combine in a of equals but the deal was thrown into doubt days later when a leading investor in the British bookmaker said it would oppose any combination.

The Canadian company said it had decided it could best deliver shareholder value by remaining an independent company, while said it had decided to walk away after canvassing its biggest investors.

The talks mark the latest failed deal for after it rejected a takeover approach from online rival 888 and casinos and bingo halls operator Rank Group in August.

said trading had continued to be positive in the second half of the year and it expects operating profit for 2016 to be at the top end of the previously guided range of 260 million pounds ($323 million) to 280 million pounds.

Amaya said it had been informed by its former chief executive, David Baazov, that he continued to be interested in acquiring all of the outstanding shares of Amaya, but that the firm had not received an offer capable of resulting in a transaction.

Amaya said in February it had received a non-binding proposal from Baazov to take the company private, but the formal bid never came.
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Business Standard
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Canada's Amaya and Britain's William Hill end merger talks

Talks fell apart after a leading investor in bookmaker William Hill opposed the merger

talks between Canadian online gambling company and British bookmaker have ended after the two firms concluded they would be stronger on their own.

Amaya, operator of online gambling website PokerStars, and announced earlier this month that they were in talks to combine in a of equals but the deal was thrown into doubt days later when a leading investor in the British bookmaker said it would oppose any combination.

The Canadian company said it had decided it could best deliver shareholder value by remaining an independent company, while said it had decided to walk away after canvassing its biggest investors.

The talks mark the latest failed deal for after it rejected a takeover approach from online rival 888 and casinos and bingo halls operator Rank Group in August.

said trading had continued to be positive in the second half of the year and it expects operating profit for 2016 to be at the top end of the previously guided range of 260 million pounds ($323 million) to 280 million pounds.

Amaya said it had been informed by its former chief executive, David Baazov, that he continued to be interested in acquiring all of the outstanding shares of Amaya, but that the firm had not received an offer capable of resulting in a transaction.

Amaya said in February it had received a non-binding proposal from Baazov to take the company private, but the formal bid never came.

image
Business Standard
177 22

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