Shares of Amaya Surges Following CEO's Offer To Acquire The Entire Company

Shares of

, a Canada-based gaming and online gambling company, surged higher by more than 25 percent on Monday after the company's Chairman and CEO

his intention to acquire all existing shares of the company and take the company private. Amaya's portfolio of brands include PokerStars, Full Tilt, BetStars, StarsDraft, among others. Amaya's CEO, David Baazov, offered to acquire all common shares of the stock at a price of C$21.00 (approximately $15.01). The company did however note that at the time of its press release, a special committee of independent directors has "neither received nor solicited a formal bid or offer related to a potential transaction." Amaya's Toronto Stock Exchange-listed issue was trading higher by 23.88 percent at C$18.57 on Monday.