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

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William Hill shares increase as investor declines merger strategy
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Shares in William Hill have actually risen after the betting business's biggest investor stated it would oppose any merger handle Canada's Amaya.
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Last Hill stated it remained in talk with merge with Amaya, which owns poker sites Full Tilt and PokerStars, in a potential ₤ 4.5 bn offer.

But Parvus Asset Management stated the merger had "minimal tactical logic" and would "destroy investor worth".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the wagering company must consider other all choices to increase shareholder returns, including a possible sale.
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Ralph Topping, who stepped down in 2014 after eight years as primary executive of William Hill, said he "totally supported" Parvus.
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"When this promotion code deal 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 business. I'm extremely nervous on the future of William Hill."

Also on the FTSE 250, shares in Man Group jumped 13.7% after the yohaig code world's biggest listed hedge fund stated it was purchasing investment manager Aalto, which handles property assets worth $1.7 bn.

Man Group also reported a 6% rise in the worth of funds under management during the three months to September and said it planned a $100m share buyback.

The blue-chip FTSE 100 index increased 35.81 points to 7,013.55. Tesco was the biggest riser, up 4.41% to 203.7 p. the yohaig code supermarket said on Thursday night that it had resolved its rates row with supplier 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.
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Against the yohaig code 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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