Shares Up Over 100% Since Acquisition of Pokerstars/Full Tilt PokerPublished on July 29th, 2014 7:55 pm EST
Shares of Amaya Gaming (AYA on the Toronto Stock Exchange) traded up over 14% on Tuesday to close at $29.61 following news that the company had successfully navigated all of the regulatory issues needed to secure their purchase of the Rational Group.
Amaya Gaming announced in mid June that they would be purchasing the owner of Pokerstars and Full Tilt Poker for an astonishing $4.9 billion. The complicated purchase, which involves the raising of a great deal of money and the successful navigation of a score of regulatory issues, shocked the online gaming world when it was announced.
Prior to the deal being announced, shares of Amaya Gaming had closed at $14.08 (though they had closed at $12.02 the day before, as rumors of the pending purchase sent shares soaring on June 12th). Today, following the news that Amaya had solved any regulatory issues, shares of the company closed at $29.61 after touching a new 52 week high of $30.67.
The Amaya Gaming/Rational Group deal is still likely months away from being completed, but there are no obvious impediments to the deal going through. Don't expect Amaya's shareholders to vote against the transaction, especially given the meteoric rise in shares of the company over the past couple of months.
Source: Financialpost.com - Amaya Gaming Hits All-Time High As Regulators Approve Rational Deal
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