According to a story from Online Poker Report, SpringOwl Asset Management sent a letter to Amaya’s CEO and chairman denouncing the offer to buy the company and rejecting any further relationship with Baazov.

The letter acquired by OPR lists a damning set of objections to both the bid and any continuing relationship with David Baazov. SpringOwl’s CEO Jason Ader complains that the company has communicated poorly with shareholders, and expressed his concern about corporate governance decisions and strategic initiatives . . . After listing the weaknesses of the company under David Baazov’s leadership, Ader pokes holes in his bid and then suggests several steps the company can take to improve governance and grow the business.

Amaya’s board has not yet formally replied to the letter, but the opposition of one of their major investors will make it more difficult for them to recommend that shareholders should accept Baazov’s bid.
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