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

shares increase as financier declines merger strategy

Shares in William Hill have increased after the wagering business's largest shareholder stated it would oppose any merger handle Canada's Amaya.

Last weekend William Hill stated it remained in speak with combine with Amaya, which owns poker websites Full Tilt and PokerStars, in a potential ₤ 4.5 bn offer.
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But Parvus Asset Management said the merger had "minimal strategic logic" and would "destroy shareholder value".
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Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus said the wagering company ought to consider other all choices to maximise shareholder returns, consisting of a possible sale.
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Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, said he "fully supported" Parvus.
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"When this promotion code deal was announced I was left scratching my head," he informed the Financial Times, external. Both [Amaya and William Hill] have a lot to arrange out in their own service. I'm very anxious 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 noted hedge fund said it was purchasing investment manager Aalto, which manages property assets worth $1.7 bn.

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