William Hill Shares Rise As Investor Rejects Merger Plan

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William Hill shares rise as investor rejects merger strategy

Shares in William Hill have risen after the betting company's biggest investor said it would oppose any merger offer with Canada's Amaya.
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Last weekend William Hill said it was in talks to combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a prospective ₤ 4.5 .

But Parvus Asset Management stated the merger had "limited strategic reasoning" and would "destroy shareholder worth".
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Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.

Parvus stated the yohaig code betting company must think about other all options to maximise shareholder returns, consisting of a possible sale.
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Ralph Topping, who stepped down in 2014 after eight years as primary executive of William Hill, stated he "fully supported" Parvus.
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"When this promotion code offer was announced I was left scratching my head," he informed the Financial Times, external. Both [Amaya and William Hill] have a lot to figure out in their own company. I'm really nervous on the future of William Hill."
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Also on the FTSE 250, shares in Man Group jumped 13.7% after the world's greatest listed hedge fund said it was buying investment manager Aalto, which handles property possessions worth $1.7 bn.

Man Group likewise reported a 6% rise in the value of funds under management throughout the 3 months to September and said it prepared a $100m share buyback.
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The blue-chip FTSE 100 index rose 35.81 indicate 7,013.55. Tesco was the biggest riser, up 4.41% to 203.7 p. The supermarket stated on Thursday night that it had actually fixed its prices row with supplier Unilever. Shares in Unilever were down 0.5%.

On the yohaig code currency markets, the pound was trading at $1.2185, down 0.56%, versus the dollar.
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Against the euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016
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