William Hill shares increase as investor declines merger strategy

Shares in William Hill have actually increased after the betting company's largest investor stated it would oppose any merger handle Canada's Amaya.

Last weekend William Hill said it was in speak to combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn deal.

But Parvus Asset Management stated the merger had "restricted tactical reasoning" and would "ruin shareholder value".

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

Parvus stated the wagering company needs to consider other all alternatives to increase shareholder returns, consisting of a possible sale.

Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, stated he "totally supported" Parvus.

"When this bet9ja's welcome offer was announced I was left scratching my head," he informed the Financial Times, external. Both [Amaya and William Hill] have a lot to figure out in their own company. I'm extremely distressed on the yohaig code future of William Hill."

Also on the yohaig code FTSE 250, shares in Man Group jumped 13.7% after the world's greatest noted hedge fund said it was purchasing investment supervisor Aalto, which manages home possessions 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 biggest riser, up 4.41% to 203.7 p. The supermarket stated on Thursday night that it had actually solved its rates 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%, versus the dollar.

Against the euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016