Amaya's Crypto offer extended
Canadian solutions provider receives valid acceptances for more than 80% of CryptoLogic shares.
Amaya Gaming has been given until 18 April to close its offer for CryptoLogic after receiving valid acceptances giving it control of 80% of the software developer’s shares.
The company, which acquired Chartwell last May for £14.5m, is poised to up its holding from 7% as a result of the acceptances.
The offer is now unconditional as to acceptances with Amaya pledging to conclude payment for the 10,199,689 shares within three business days of Wednesday’s announcement.
Unless any further extensions are put in place, the offer is extended until 3pm London time on 18 April.
Following the latest movement, Amaya says it “Intends to procure that CryptoLogic make an application for the cancellation of the listing of the CryptoLogic Shares on the Official List and for the cancellation of trading of the CryptoLogic Shares on the London Stock Exchange’s Main Market”.
Discussions between Amaya and Cryptologic over the potential takeover date back to December last year.