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

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William Hill shares rise as investor rejects merger plan
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Shares in William Hill have actually risen after the wagering business's largest investor stated it would oppose any merger bet9ja's welcome offer with Canada's Amaya.

Last Hill stated it remained in talk with merge with Amaya, which owns poker websites Full Tilt and PokerStars, in a possible ₤ 4.5 bn deal.

But Parvus Asset Management said the merger had "restricted tactical reasoning" and would "ruin shareholder worth".
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Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.

Parvus stated the wagering company must consider other all options to increase shareholder returns, including a possible sale.

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 arrange out in their own company. I'm very anxious 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 noted hedge fund said it was purchasing financial investment supervisor Aalto, which manages home possessions worth $1.7 bn.
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Man Group also reported a 6% rise in the worth of funds under management during the 3 months to September and stated it prepared a $100m share buyback.

the yohaig code 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 said on Thursday night that it had actually solved its pricing row with supplier 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%, against the dollar.

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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