Rational Group Takeover Moves Closer

Rational Group Takeover Moves Closer

Wednesday, 30 July 2014

The Amaya Group's proposed takeover of the Rational Group has moved a step closer after receiving regulatory approval for the acquisition.

Amaya announced details of a $4.9bn deal to acquire Rational Group, which operates PokerStars and Full Tilt, in June.

In a statement released yesterday, Amaya confirmed that “it has received conditional approval from the Toronto Stock Exchange (TSX) regarding the Proposed Transaction and the listing of Amaya common shares issuable in connection with the planned financing of the Proposed Transaction, including those underlying warrants, subscription receipts and convertible preferred shares issued in relation to the planned financing.”

“Completion of the Transaction remains subject to, among other customary conditions, the approval of certain aspects of the planned financing for the Proposed Transaction by Amaya's shareholders, which are scheduled to consider the matter at the annual and special meeting of the Corporation's shareholders (the "Shareholder Meeting") on July 30, 2014. Assuming a favourable outcome at the Shareholder's Meeting, Amaya and Oldford Group Ltd., the parent company of Rational Group, intend to move expeditiously towards completion of the Transaction.”

Tags: PokerStars, Rational Group, Amaya