As Free Slot Money mentioned in our July 29th post, Amaya Gaming shareholders would gather Wednesday the 30th of July to vote on the acquisition of The Rational Group. Free Slot Money can now report that the outcome of that meeting was in favor to proceed with the transaction. Shareholders gave their unanimous consent to all the matters relating to the $4.9 billion deal to take control over the Oldford Group.
Amaya Gaming informed the press that they, “approved all resolutions related to the aspect of the financing for the corporation’s proposed acquisition of Oldford Group Limited, the parent company of Rational Group Ltd., which is the owner and operator of the PokerStars and Full Tilt brands.” Amaya’s Chairman and CEO David Baazov reacted to the meeting’s outcome by stating, “On behalf of the Board of Directors, I wish to extend my appreciation to Shareholders for their overwhelming support of the acquisition of Rational Group.”
The shareholder agreement along with the regulatory approval means that Amaya Gaming can move swiftly in the acquisition of The Rational Group. Also decided at the meeting, is the new name for the group which will be Amaya Inc. There will also be a new class of preferred shares and warrants created. Amaya’s stock, which is traded on the Toronto Stock Exchange, reached a 52-week high capitalizing upon news of the shareholder’s agreement. On Thursday July 31st, the stock closed at $29.10.
Review the Market Watch details here and to view the details of Amaya receiving gaming regulatory approval to acquire The Rational Group, check out their press release here.
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