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

William Hill and Amaya abandon merger talks
bit.ly
18 October 2016

British bookmaker William Hill and Amaya, owner of the world's greatest 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 major investors.
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Recently, its most significant financier, Parvus Asset Management, greatly criticised the tie-up.
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Canada's Amaya, external, which owns PokerStars, said that remaining independent was the finest relocation for shareholders.
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Amaya stated: "Discussions have concluded, and Amaya and William Hill have figured out that they will no longer pursue the merger."
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'Limited reasoning'
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News of the talks emerged earlier this promotion code month, with William Hill saying a merger would create "a clear global leader across online sports wagering, poker and casino".
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However, Parvus said the offer had "limited tactical reasoning" and would "destroy investor value".
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The FTSE 250 bookmaker is wanting to keep up as a lot of its close rivals merge. Paddy Power and Betfair have combined to produce a FTSE 100 betting company, while Ladbrokes and Coral are integrating to become the UK's most significant High Street bookmaker.
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Ladbrokes reported a 12% rise in third-quarter revenue on Tuesday, improved by online growth and bad outcomes for fan-favourites Manchester United and Barcelona.
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William Hill, which ousted its president in July after a string of revenue warnings, saw off a takeover technique from gambling establishment firm Rank and online operator 888 2 months back.

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

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