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

1 William Hill Shares Rise As Investor Rejects Merger Plan

William Hill shares increase as merger strategy

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

Last weekend William Hill stated it remained in talks to combine with Amaya, which owns poker websites Full Tilt and PokerStars, in a possible ₤ 4.5 bn deal.
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But Parvus Asset Management said the merger had "limited tactical reasoning" and would "damage 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 stated the wagering firm should 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 "totally supported" Parvus.
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"When this promotion code deal was revealed 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 organization. I'm extremely nervous 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 stated it was buying investment manager Aalto, which manages property possessions worth $1.7 bn.
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Man Group likewise reported a 6% increase in the value of funds under management during the three months to September and said it planned a $100m share buyback.
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The blue-chip FTSE 100 index rose 35.81 indicate 7,013.55. Tesco was the most significant riser, up 4.41% to 203.7 p. The supermarket said on Thursday night that it had actually fixed its rates row with supplier Unilever. Shares in Unilever were down 0.5%.
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On the currency markets, the yohaig code 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