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Amaya Shareholder Says Baazov Bid Lacks Transparency

  • Activist investor wants board seats for shareholders
  • SpringOwl’s Ader says Baazov’s bid has distracted management
Photographer: gbrundin/Getty Images

SpringOwl Asset Management, a U.S. activist investor that’s been boosting its stake in Amaya Inc., said the $4.1 billion takeover bid by the online gaming company’s founder lacks credibility and has distracted management.

SpringOwl Chief Executive Officer Jason Ader said Amaya should move on unless David Baazov increases his cash bid and makes his sources of funding more transparent. In a letter to Amaya’s current CEO and chairman, he also suggested adding three directors to represent shareholders and urged the PokerStars owner to shake off “the undue influence” of Baazov.