William Hill Shares Rise As Investor Rejects Merger Plan

William Hill shares rise as investor declines merger plan

Shares in William Hill have risen after the betting company's biggest shareholder said it would oppose any merger handle Canada's Amaya.

Last Hill stated it remained in talk with merge with Amaya, which owns poker sites Full Tilt and PokerStars, in a possible ₤ 4.5 bn bet9ja's welcome offer.
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But Parvus Asset Management said the merger had "limited strategic reasoning" and would "ruin shareholder worth".
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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 betting company should consider other all options to increase investor returns, including a possible sale.

Ralph Topping, who stepped down in 2014 after eight years as chief executive of William Hill, said he "fully 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 Financial Times, external. Both [Amaya and William Hill] have a lot to arrange out in their own organization. I'm very 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 most significant noted hedge fund stated it was buying financial investment manager Aalto, which manages property assets worth $1.7 bn.
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Man Group also reported a 6% increase in the value of funds under management during 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 points to 7,013.55. Tesco was the yohaig code greatest riser, up 4.41% to 203.7 p. The grocery store stated on Thursday night that it had resolved 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%, 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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