William Hill Shares Rise As Investor Rejects Merger Plan

William Hill shares rise as financier declines merger plan
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Shares in William Hill have risen after the wagering company's biggest investor said it would oppose any merger deal with Canada's Amaya.


Last weekend William Hill stated it in talk with combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a potential ₤ 4.5 bn deal.


But Parvus Asset Management stated the merger had "minimal strategic reasoning" and would "ruin 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 yohaig code wagering company must think about other all alternatives to increase shareholder returns, including a possible sale.
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Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, stated he "completely supported" Parvus.
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"When this promotion code bet9ja's welcome offer was announced I was left scratching my head," he told the Financial Times, external. Both [Amaya and William Hill] have a lot to arrange out in their own service. I'm very nervous on the future of William Hill."


Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's biggest listed hedge fund said it was buying financial investment supervisor Aalto, which manages home possessions worth $1.7 bn.


Man Group also reported a 6% rise in the worth of funds under management during the three 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 most significant riser, up 4.41% to 203.7 p. The grocery store stated on Thursday night that it had solved its rates 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.


William Hill in ₤ 4.5 bn merger talks


9 October 2016
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