william-hill-and-amaya-abandon-merger-talks

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William Hill and Amaya abandon merger talks
bit.ly
18 October 2016
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British bookmaker William Hill and Amaya, owner of the world's most significant online poker organization, have ended talks of a possible ₤ 4.5 bn merger.

William Hill said it took the decision, external after canvassing views from a number of significant shareholders.

Last week, its most significant financier, Parvus Asset Management, heavily criticised the yohaig code tie-up.

Canada's Amaya, external, which owns PokerStars, stated that remaining independent was the best relocation for investors.
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Amaya stated: "Discussions have concluded, and Amaya and William Hill have actually determined that they will no longer pursue the merger."
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'Limited reasoning'

News of the talks emerged previously this promotion code month, with Hill stating a merger would develop "a clear global leader throughout online sports wagering, poker and casino".
bit.ly
However, Parvus stated the deal had "minimal strategic logic" and would "damage shareholder worth".

The FTSE 250 bookie is seeking to maintain as numerous of its close rivals merge. Paddy Power and Betfair have combined to develop a FTSE 100 betting firm, while Ladbrokes and Coral are combining to become the UK's greatest High Street bookie.

Ladbrokes reported a 12% increase in third-quarter revenue on Tuesday, improved by online growth and bad results for fan-favourites Manchester United and Barcelona.

William Hill, which ousted its chief executive in July after a string of profit cautions, saw off a takeover approach from gambling establishment firm Rank and online operator 888 2 months earlier.
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Meanwhile, Amaya's shares have fallen 30% in the previous 12 months amid an insider trading examination into its former chief executive, the threat of a $870m (₤ 710m) fine in Kentucky, and slowing prospects for online poker.

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