David Baazov’s plan to acquire PokerStars parent Amaya Inc. has fallen through, with the company confirming Tuesday that talks with its former chief executive have been terminated.

Baazov, who served as chief executive of Amaya until earlier this year, had proposed to take the company private, submitting a $6.7bn offer to the company’s board last month.

His tenure as chief executive came to an end in August when Rafi Ashkenazi was named as permanent CEO, having spent five months in the role on an interim basis after Baazov stepped down to fight insider trading allegations against him by Quebec’s financial regulator.

The company provided no further details on why the discussions were terminated.

Shares in Amaya Inc. (Co. Data) (TSX:AYA) closed in Toronto Monday, prior to the announcement, up 1.47 per cent at CAD$19.38 per share.

Amaya’s shares had been trading as high as $23.41 per share in early October when the company entered into merger discussions with William Hill, with those discussions terminated a week later.

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