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

William Hill and Amaya desert merger talks

18 October 2016
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British bookie and Amaya, owner of the yohaig code world's biggest online poker organization, have ended talks of a possible ₤ 4.5 bn merger.

William Hill stated it took the choice, external after canvassing views from a number of major investors.
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Last week, its most significant investor, Parvus Asset Management, greatly criticised the tie-up.
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Canada's Amaya, external, which owns PokerStars, stated that staying independent was the very best move for shareholders.
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Amaya said: "Discussions have concluded, and Amaya and William Hill have figured out that they will no longer pursue the merger."

'Limited logic'
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News of the talks emerged previously this promotion code month, with William Hill stating a merger would produce "a clear global leader throughout online sports wagering, poker and gambling establishment".
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However, Parvus said the deal had "limited tactical reasoning" and would "damage investor value".
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The FTSE 250 bookie is aiming to keep up as much of its close competitors combine. Paddy Power and Betfair have merged to develop a FTSE 100 betting firm, while Ladbrokes and Coral are combining to become the UK's biggest High Street bookmaker.

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

William Hill, which ousted its president in July after a string of earnings warnings, saw off a takeover method from gambling establishment company Rank and online operator 888 two months back.

Meanwhile, Amaya's shares have fallen 30% in the past 12 months amid an insider trading investigation into its previous president, the threat of a $870m (₤ 710m) fine in Kentucky, and slowing potential customers for online poker.

Ladbrokes-Coral sells 359 betting shops