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

William Hill shares increase as investor rejects merger plan
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Shares in William Hill have actually increased after the wagering company's biggest shareholder stated it would oppose any merger deal with Canada's Amaya.

Last weekend William Hill said it remained in talk with combine with Amaya, which owns poker websites Full Tilt and PokerStars, in a ₤ 4.5 bn bet9ja's welcome offer.

But Parvus Asset Management stated the merger had "limited strategic logic" and would "damage shareholder value".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.

Parvus said the betting firm should think about other all alternatives to maximise investor returns, including a possible sale.
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Ralph Topping, who stepped down in 2014 after 8 years as primary executive of William Hill, stated he "totally 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 sort out in their own company. I'm extremely anxious 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 biggest listed hedge fund stated it was buying investment manager Aalto, which manages residential or commercial property assets worth $1.7 bn.
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Man Group likewise reported a 6% increase in the worth of funds under management throughout the yohaig code 3 months to September and said it prepared a $100m share buyback.
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The blue-chip FTSE 100 index increased 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 resolved its pricing row with provider 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%, against the dollar.
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Against the euro it was flat at EUR1.1083.
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William Hill in ₤ 4.5 bn merger talks

9 October 2016