William Hill shares increase as financier rejects merger strategy

Shares in William Hill have actually risen after the betting business's largest shareholder said it would oppose any merger deal with Canada's Amaya.

Last weekend William Hill stated it was in talk with combine with Amaya, which sites Full Tilt and PokerStars, in a possible ₤ 4.5 bn bet9ja's welcome offer.
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But Parvus Asset Management said the merger had "minimal strategic reasoning" and would "damage shareholder worth".
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Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the betting firm should consider other all choices to maximise investor returns, including a possible sale.
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Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, stated he "totally supported" Parvus.
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"When this promotion code deal was revealed I was left scratching my head," he told the Financial Times, external. 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 jumped 13.7% after the world's most significant listed hedge fund stated it was buying financial investment manager Aalto, which manages home assets worth $1.7 bn.
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Man Group also reported a 6% increase in the yohaig code value of funds under management during the three months to September and said it prepared a $100m share buyback.
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The blue-chip FTSE 100 index increased 35.81 points to 7,013.55. Tesco was the most significant riser, up 4.41% to 203.7 p. The supermarket said on Thursday night that it had actually solved its pricing row with provider 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 euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016