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

William Hill shares rise as financier turns down merger plan

Shares in William Hill have risen after the wagering company's largest investor stated it would oppose any merger handle Canada's Amaya.

Last weekend William Hill stated it remained in speak with combine with Amaya, which owns poker websites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn deal.
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But Parvus Asset Management stated the merger had "restricted strategic logic" and would "destroy investor value".
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Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.

Parvus stated the wagering company should consider other all options to returns, consisting of a possible sale.

Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, said he "fully 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 arrange out in their own business. I'm really nervous on the yohaig code future of William Hill."
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Also on the yohaig code FTSE 250, shares in Man Group leapt 13.7% after the yohaig code world's most significant noted hedge fund stated it was purchasing financial investment manager Aalto, which manages home possessions worth $1.7 bn.

Man Group likewise reported a 6% increase in the worth of funds under management throughout the 3 months to September and stated it planned a $100m share buyback.
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the yohaig code blue-chip FTSE 100 index increased 35.81 indicate 7,013.55. Tesco was the biggest riser, up 4.41% to 203.7 p. The grocery store stated on Thursday night that it had actually resolved its pricing row with supplier Unilever. Shares in Unilever were down 0.5%.
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On the yohaig code currency markets, the 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