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Former CEO and Amaya Inc. Founder David Baazov has withdrawn his $6.7 billion offer due to the too high asking price of some shareholders.
Amaya, owner of Poker Stars and Full Tilt is listed on the Nasdaq and Toronto Stock Exchange.
In a statement Baazov said: “During the discussions it became evident that the share price premium demanded by certain shareholders exceeded the price at which my investors and I would be willing to complete a transaction. After consulting with my advisors, I determined that the best course of action for me and Amaya would be for me to end my attempt to purchase the company.”
Baazov put initially an offer of $6.7 billion together with the help of a group of fianciers. This is the second time a deal didn’t go through after William Hill plc and Amaya called off a deal back in October.
Baazov who took part in the purchase of PokerStars and Full Tilt for $5 billion in 2014, still owns a stake of 17.2% of the world’s largest online gaming company.