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Amaya's board demanded a higher price than David Baazov was prepared to offer. The Board must now produce growth to create shareholder value.
A possible explanation for last week's bizarre events, and no denials from Amaya or Baazov's Chinese investors makes for a more believable bid.
One of the funders listed in David Baazov's SEC filing, KBC Aldini, claims that it has no knowledge whatsoever of the deal for Amaya.
Amaya releases Q3 results and announces that David Baazov has put a real, albeit non-binding bid, to take the company private. But will Amaya accept?