Amaya buys Chartwell Technology
Chartwell shareholders will get 87.5 Canadian cents and 0.125 common share of Amaya for each share. The offer represents a premium of 56% to Chartwell's Wednesday closing price.
The Chartwell board members and executive officers, who collectively own about 5% shares, have agreed to vote in favour of the deal.
According to Gaming Intelligence, each Chartwell shareholder will receive cash in the amount of $0.875 plus 0.125 common shares of Amaya shares in exchange for each Chartwell share.
Chartwell shareholders will also have the right to elect to receive one-half of the total consideration for their Chartwell shares in the form of Amaya shares at a deemed value of $3.00 for each Amaya share.
Under the agreement, Chartwell agreed that it will not solicit or initiate any discussions concerning the pursuit of any other acquisition proposals, says Canadian Business.
In commenting on the proposed transaction, Darold Parken, president and CEO of Chartwell says: “The combination of Chartwell and Amaya presents a tremendous range of synergies which will benefit both companies and their customers.
“The resulting company will have a significantly expanded product range, delivery channel capability and market reach. We are very excited about joining forces and working with the team at Amaya to build a highly diversified international gaming company and to better serve our customers.”
Share
