William Hill shares increase as financier declines merger plan

Shares in William Hill have actually risen after the wagering business's largest shareholder said 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 said the merger had "minimal 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.
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Parvus said the betting company should consider other all options to maximise shareholder returns, consisting of a possible sale.
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Ralph Topping, who stepped down in 2014 after 8 years as president of Hill, said he "completely supported" Parvus.
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"When this promotion code bet9ja's welcome offer was announced I was left scratching my head," he told the Financial Times, external. Both [Amaya and William Hill] have a lot to sort out in their own service. I'm very nervous 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 greatest listed hedge fund stated it was buying investment supervisor Aalto, which manages property possessions worth $1.7 bn.
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Man Group also reported a 6% rise in the worth of funds under management during the three months to September and stated it planned a $100m share buyback.

The 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 resolved its pricing row with supplier Unilever. Shares in Unilever were down 0.5%.
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On the 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