Former Amaya CEO David Baazov makes a 24% takeover offer to Amaya.

Amaya Inc’s previous CEO, David Baazov, has offered to purchase the Canadian online gambling company in an arrangement esteemed at about $3.48 billion. The offer cost of $24 per share speaks to a premium of 30.9% to Amaya’s Friday close of $18.34.

Mr. Baazov as of now, possesses around 17.2% of Amaya, including more than 24.5 million shares and alternatives that warrants him to gain 387,500 more.

Since then, Baazov has been accused with five offences including communicating privileged information and attempting to influence the market price of Amaya stock. He has pleaded not guilty.

Four funds had committed US$3.65 billion to help the new entity buy Amaya, Baazov said.

English bookmaker William Hill Plc and Amaya deserted merger talks in October, after the arrangement was tossed into uncertainty when a leading investor in William Hill said it would restrict the arrangement.

Amaya’s net revenue from proceeding with operations was US$12.5 million, or 6 cents for every share, contrasted with lost US$29.1 million, or 15 cents a share, a year prior.

the company reports its 2016 third quarter profir, with income of US$270 million for the period wound up from $247.3 million in a similar quarter a year ago.

On a balanced basis, the company said it earned US$85 million or 42 cents for every share, up from US$69 million or 35 cents for each share a year back.

Amaya likewise updates its 2016 entire year guidance income ranging US$1.137 and $1.157 billion from past guidance of amongst US$1.13 and US$1.16 billion.

The company’s forecast for adjusted net earnings, was also updated to between $344 million and $354 million compared with its earlier outlook for between $332 to $352 million.