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

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William Hill shares increase as investor declines merger plan
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Shares in William Hill have risen after the wagering company's largest shareholder said it would oppose any merger bet9ja's welcome offer with Canada's Amaya.
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Last weekend William Hill stated it remained in speak with merge with Amaya, which owns poker sites Full Tilt and PokerStars, in a potential ₤ 4.5 bn offer.

But Parvus Asset Management said the merger had "limited tactical reasoning" and would "damage investor value".

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

Parvus stated the betting company needs to think about other all alternatives to maximise investor returns, including a possible sale.

Ralph Topping, who stepped down in 2014 after 8 years as primary executive of William Hill, stated he "fully supported" Parvus.
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"When this promotion code bet9ja's welcome offer was revealed I was left scratching my head," he told the Financial Times, . Both [Amaya and William Hill] have a lot to figure out in their own organization. I'm very distressed on the future of William Hill."
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Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's biggest noted hedge fund stated it was buying financial investment manager Aalto, which manages property assets worth $1.7 bn.

Man Group also reported a 6% increase in the value of funds under management throughout the three months to September and said it prepared a $100m share buyback.

The blue-chip FTSE 100 index increased 35.81 points to 7,013.55. Tesco was the greatest riser, up 4.41% to 203.7 p. The supermarket stated on Thursday night that it had actually solved its pricing row with provider Unilever. Shares in Unilever were down 0.5%.
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On the currency markets, the yohaig code 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.
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William Hill in ₤ 4.5 bn merger talks

9 October 2016
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