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

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William Hill shares rise as investor rejects merger strategy
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Shares in William Hill have actually risen after the betting business's largest investor said it would oppose any merger deal with Canada's Amaya.
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Last weekend William Hill stated it remained in speak with merge with Amaya, which owns poker websites Full Tilt and PokerStars, in a potential ₤ 4.5 bn deal.

But Management stated the merger had "minimal strategic logic" and would "destroy investor worth".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.

Parvus stated the betting firm must think about other all choices to increase investor returns, including a possible sale.

Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, stated he "totally supported" Parvus.

"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 figure out in their own company. I'm very distressed on the future of William Hill."
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Also on the FTSE 250, shares in Man Group jumped 13.7% after the world's biggest listed hedge fund said it was buying financial investment manager Aalto, which manages residential or commercial property assets worth $1.7 bn.
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Man Group also reported a 6% rise in the value of funds under management throughout the 3 months to September and said it planned 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 said on Thursday night that it had resolved its rates row with provider Unilever. Shares in Unilever were down 0.5%.

On the currency markets, the pound was trading at $1.2185, down 0.56%, against the dollar.

Against the euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016
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