william-hill-shares-rise-as-investor-rejects-merger-plan

William Hill shares rise as financier rejects merger strategy

Shares in William Hill have actually risen after the betting company's largest shareholder said it would oppose any merger handle Canada's Amaya.
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Last weekend William Hill stated it remained in talk with merge with Amaya, which owns poker sites Full Tilt and PokerStars, in a ₤ 4.5 bn deal.
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But Parvus Asset Management stated the merger had "minimal strategic reasoning" and would "destroy investor worth".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the wagering company ought to think about other all alternatives to maximise investor returns, consisting of a possible sale.
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Ralph Topping, who stepped down in 2014 after eight years as president of William Hill, said he "completely supported" Parvus.
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"When this promotion code bet9ja's welcome offer was revealed I was left scratching my head," he told the yohaig code Financial Times, external. Both [Amaya and William Hill] have a lot to figure out in their own organization. I'm really distressed on the future of William Hill."
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Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's most significant listed hedge fund said it was buying financial investment manager Aalto, which handles residential or commercial property assets worth $1.7 bn.

Man Group also reported a 6% increase in the worth of funds under management during the three months to September and stated it planned a $100m share buyback.
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The blue-chip FTSE 100 index rose 35.81 points to 7,013.55. Tesco was the greatest riser, up 4.41% to 203.7 p. The supermarket said on Thursday night that it had solved its rates row with supplier Unilever. Shares in Unilever were down 0.5%.

On the 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