William Hill shares rise as financier declines merger strategy
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Shares in William Hill have risen after the betting company's largest shareholder said it would oppose any merger handle Canada's Amaya.
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Last weekend William Hill said it was in speak with combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a potential ₤ 4.5 bn offer.
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But Parvus Asset Management stated the merger had "limited strategic reasoning" and would "ruin shareholder worth".

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

Parvus said the wagering company needs to consider other all choices to increase investor returns, including a possible sale.
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Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, said he "completely supported" Parvus.
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"When this promotion code offer was announced I was left scratching my head," he informed the Financial Times, external. Both [Amaya and William Hill] have a lot to arrange out in their own business. I'm extremely nervous on the future of William Hill."

Also on the FTSE 250, shares in Man Group jumped 13.7% after the world's greatest noted hedge fund said it was purchasing investment supervisor Aalto, which manages home possessions worth $1.7 bn.
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Man Group likewise reported a 6% increase in the value of funds under management throughout the 3 months to September and stated it planned 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 yohaig code supermarket said on Thursday night that it had actually fixed 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%, versus the dollar.

Against the euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016
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