Online Casino News - Amaya and Cryptologic Acquisition Deal Closing?
22nd of February 2012 Author: Ava Jackuard
Shareholders will soon be acknowledged of details.
Amaya Gaming and Cryptologic have continued to work together on an acquisition offer during which Cryptologic directors recommended the deal to shareholders at US$2.535 per share. The document, dated 17 February 2012, set out the terms and conditions of the Amaya offer and the procedure for acceptance, together with the Form of Acceptance.
In addition, the Directors' Circular of the board of Cryptologic is posted to shareholders of Cryptologic, and to exchangeable shareholders of Cryptologic's indirect wholly owned subsidiary, Cryptologic Exchange Corporation and holders of Cryptologic stock options.
Amaya's offer will initially remain open for acceptance until 3:00 p.m. GMT on 28 March 2012 and is conditional upon, among other things, valid acceptances being received in respect of more than 50 percent in value of the issued share capital of Cryptologic and more than 50 percent of the voting rights attached to the issued share capital of Cryptologic normally exercisable at general meetings.
In order to progress the deal shareholders are invited to complete the formalities outlined in the documents.
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