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

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William Hill shares rise as financier turns down merger strategy
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Shares in William Hill have risen after the wagering business's largest shareholder said it would oppose any merger bet9ja's welcome offer with Canada's Amaya.
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Last weekend William Hill said it remained in speak with combine with Amaya, which owns poker websites Full Tilt and PokerStars, in a possible ₤ 4.5 bn offer.

But Parvus stated the merger had "restricted tactical reasoning" and would "destroy investor value".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus said the wagering company needs to think about other all alternatives to increase shareholder returns, consisting of a possible sale.

Ralph Topping, who stepped down in 2014 after 8 years as chief executive of William Hill, stated he "fully supported" Parvus.
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"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 arrange out in their own organization. I'm very nervous on the future of William Hill."

Also on the FTSE 250, shares in Man Group jumped 13.7% after the world's most significant listed hedge fund said it was purchasing investment manager Aalto, which handles residential or commercial property possessions worth $1.7 bn.
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Man Group likewise reported a 6% rise in the value of funds under management throughout 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 greatest riser, up 4.41% to 203.7 p. The grocery store stated on Thursday night that it had actually 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 yohaig code euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016
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