David Baazov cancels proposed purchase of Amaya Incorporated

In Canada, entrepreneur David Baazov has abandoned his $6.7 billion deal to purchase Amaya Incorporated amid accusations that some shareholders had been demanding higher-than-expected premiums for their stakes in the Toronto-listed firm behind the online poker domain at PokerStars.com.

The former Chairman and Chief Executive Officer for Amaya Incorporated, Baazov resigned all his positions with the Montreal-based company in August after being charged by the Quebec securities regulator for allegedly communicating privileged information and attempting to influence the market price of the firm’s stock.

Although the charges from the Autorite Des Marches Financiers were heard in the autumn, no verdict has yet been forthcoming and Baazov remains Amaya Incorporated’s largest sh…