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

William Hill and Amaya abandon merger talks
bit.ly
18 October 2016
bit.ly
British bookmaker William Hill and Amaya, owner of the world's biggest online poker service, have actually ended talks of a possible ₤ 4.5 bn merger.
bit.ly
William Hill said it took the decision, external after canvassing views from a number of major shareholders.
bet9ja.com
Recently, its biggest financier, Parvus Asset Management, heavily criticised the tie-up.
bit.ly
Canada's Amaya, external, which owns PokerStars, stated that remaining independent was the finest relocation for shareholders.

Amaya said: "Discussions have actually concluded, and Amaya and William Hill have actually determined that they will no longer pursue the merger."
bet9ja.com
'Limited reasoning'

News of the talks emerged previously this promotion code month, with William Hill saying a merger would create "a clear international leader throughout online sports betting, poker and casino".

However, Parvus stated the bet9ja's welcome offer had "limited strategic reasoning" and would "destroy shareholder value".
bit.ly
The FTSE 250 bookie is aiming to keep up as a lot of its close rivals combine. Paddy Power and Betfair have combined to create a FTSE 100 wagering firm, while Ladbrokes and Coral are combining to become the UK's greatest High Street bookmaker.

Ladbrokes reported a 12% increase in on Tuesday, enhanced 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 revenue cautions, saw off a takeover approach from gambling establishment company Rank and online operator 888 two months ago.
bet9ja.com
Meanwhile, Amaya's shares have fallen 30% in the yohaig code past 12 months in the middle of an expert trading investigation into its former primary executive, the yohaig code hazard of a $870m (₤ 710m) fine in Kentucky, and slowing potential customers for online poker.

Ladbrokes-Coral offers 359 wagering stores