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

shares rise as financier declines merger plan

Shares in William Hill have actually risen after the betting company's biggest investor said it would oppose any merger offer with Canada's Amaya.

Last weekend William Hill stated it was in speak with combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn bet9ja's welcome offer.
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But Parvus Asset Management said the merger had "minimal strategic logic" and would "damage shareholder value".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus said the betting firm ought to consider other all alternatives to maximise shareholder returns, consisting of a possible sale.

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 bet9ja's welcome offer was revealed I was left scratching my head," he told the Financial Times, external. Both [Amaya and William Hill] have a lot to arrange out in their own service. I'm really nervous on the future of William Hill."

Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's greatest listed hedge fund said it was buying financial investment supervisor Aalto, which manages property possessions worth $1.7 bn.
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Man Group likewise reported a 6% rise in the yohaig code value of funds under management during the 3 months to September and stated it prepared 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 grocery store said on Thursday night that it had actually solved its pricing row with provider Unilever. Shares in Unilever were down 0.5%.

On the yohaig code 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
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