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William Hill shares increase as investor declines merger plan

Shares in William Hill have risen after the betting business's largest investor stated it would oppose any merger bet9ja's welcome offer with Canada's Amaya.
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Last Hill stated it was in speak with merge with Amaya, which owns poker websites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn offer.
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But Parvus Asset Management said the merger had "limited strategic reasoning" and would "destroy investor worth".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the wagering company should think about other all options to maximise investor returns, consisting of a possible sale.

Ralph Topping, who stepped down in 2014 after eight years as primary executive of William Hill, stated he "totally supported" Parvus.

"When this promotion code deal was announced I was left scratching my head," he informed the Financial Times, external. Both [Amaya and William Hill] have a lot to figure out in their own company. I'm extremely 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 said it was buying investment supervisor Aalto, which handles property assets worth $1.7 bn.

Man Group likewise reported a 6% increase in the value of funds under management throughout the three 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 biggest riser, up 4.41% to 203.7 p. The supermarket said on Thursday night that it had fixed its prices row with provider Unilever. Shares in Unilever were down 0.5%.

On the currency markets, the pound was trading at $1.2185, down 0.56%, against the dollar.

Against the yohaig code euro it was flat at EUR1.1083.
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William Hill in ₤ 4.5 bn merger talks

9 October 2016
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