William Hill shares increase as investor turns down merger strategy

Shares in William Hill have increased after the betting company's biggest investor stated it would oppose any merger handle Canada's Amaya.

Last weekend William Hill said it remained in talk with merge with Amaya, which owns poker websites Full Tilt and PokerStars, in a potential ₤ 4.5 bn deal.

But Parvus Asset Management said the merger had "restricted strategic logic" and would "damage investor 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 stated the wagering firm must think about other all alternatives to maximise shareholder returns, consisting of a possible sale.
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Ralph Topping, who stepped down in 2014 after eight years as primary executive of William Hill, said 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 figure out in their own . I'm really 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 greatest listed hedge fund stated it was purchasing financial investment manager Aalto, which manages property possessions worth $1.7 bn.
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Man Group also reported a 6% rise in the yohaig code worth of funds under management during the three months to September and said it prepared a $100m share buyback.

The blue-chip FTSE 100 index rose 35.81 points to 7,013.55. Tesco was the biggest riser, up 4.41% to 203.7 p. The grocery store said 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%, 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