David Baazov, the Amaya founder, withdrew his $4.1 million bid efforts to take PokerStars private, reported Bloomberg. The overall value of the bid came in around $6.7 billion when accounting for debt.
Baazov said in a statement Dec. 20 that the stockholder price was too lofty for him to continue. Baazov has a 17 percent stake in Amaya, making him the second largest shareholder of the company, according to data from Bloomberg.
“It became evident that the share price premium demanded by certain shareholders exceeded the price at which my investors and I would be willing to complete a transaction,” Baazov said in the statement.