Expected Baazov bids sees Amaya withhold 2016 guidance

Amaya says it will not be offering guidance on its 2016 financial performance when it publishes its full-year results later this month as the firm continues to wait for its chief executive David Baazov to lodge a formal takeover bid.

The special committee of independent advisors appointed to review the offer put forward by Baazov, or any others that may surface, confirmed it had yet to receive formal bid from the chief exec or any other potential suitor.

Last week it was reported that Playtech was considering making a bid for the firm as part of a wider shopping spree, which also included an attempt to fend off rival suitors in the race to acquire online sports betting platform supplier Openbet.

Baazov first announced plans to acquire Amaya back in February, offering CAD$21per common share in cash, with a formal bid expected by the end of last month.

Amaya said the committee had engaged with Baazov to settle the terms under which confidential information regarding the firm would be made available to him for the purpose of evaluating and possibly making an offer.

The firm also said that in view of the potential offer from Baazov, it had taken the decision not to offer guidance on its 2016 financial performance when it reports its 2015 results later in the month.