William Hill shares rise as investor declines merger strategy

Shares in William Hill have risen after the yohaig code betting company's biggest shareholder said it would oppose any merger bet9ja's welcome offer with Canada's Amaya.

Last weekend William Hill stated it was in talks to combine with Amaya, which websites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn bet9ja's welcome offer.
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But Parvus Asset Management stated the merger had "restricted strategic reasoning" and would "damage shareholder value".
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Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus said the wagering company ought to think about other all alternatives to maximise 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 "fully 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 arrange out in their own company. I'm really nervous 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 handles property possessions worth $1.7 bn.
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Man Group likewise reported a 6% rise in the value of funds under management throughout the yohaig code three months to September and stated it planned a $100m share buyback.
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The blue-chip FTSE 100 index rose 35.81 points to 7,013.55. Tesco was the greatest riser, up 4.41% to 203.7 p. The supermarket said on Thursday night that it had actually fixed its rates row with provider Unilever. Shares in Unilever were down 0.5%.
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On the currency markets, the 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.

William Hill in ₤ 4.5 bn merger talks

9 October 2016