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Amaya gets green light to complete CryptoLogic purchase

Canadian server and network-based gaming specialist has received over 80 percent approval for its proposed acquisition of online casino games developer.

Friday 30th March 2012

Server and network-based gaming specialist Amaya Gaming Group has announced that its proposed offer to purchase all of the outstanding share capital in online casino games developer CryptoLogic has been declared unconditional. Montreal-based Amaya already controls just over seven percent of CryptoLogic and stated that its offer worth $34.5 million in cash ‘received valid acceptances’ from an additional 73.76 percent of shareholders for a total of over 80 percent. “In accordance with the level of acceptances set forth above, Amaya is pleased to announce that the offer has become unconditional as to acceptances,” read a statement from Amaya. “In addition, Amaya is pleased to announce that, all conditions to the offer having been satisfied or waived, the offer is unconditional in all respects and that Amaya has taken up and will pay for the 10,199,689 CryptoLogic shares validly tendered in accordance with the offer within three business days of the date hereof.” In addition, Amaya declared that it has extended its offer period for the remaining CryptoLogic shares until April 18 so that holders that have not accepted its offer may do so. The company added that it is now set to request that CryptoLogic file an application with the London Stock Exchange, the Toronto Stock Exchange and NASDAQ to de-list its shares.

Source: OnlineCasinoNews

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