William Hill shares increase as investor declines merger plan

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

Last weekend William Hill said it remained in speak with combine with Amaya, which owns poker websites Full Tilt and PokerStars, in a potential ₤ 4.5 bn deal.

But Parvus Asset Management said the yohaig code merger had "restricted tactical reasoning" and would "destroy shareholder value".

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

Parvus said the yohaig code wagering company needs to think about other all options to maximise shareholder returns, including a possible sale.

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

"When this bet9ja's welcome offer was announced 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 business. I'm very distressed on the future of William Hill."

Also on the FTSE 250, shares in Man Group leapt 13.7% after the yohaig code world's greatest listed hedge fund stated it was buying financial investment manager Aalto, which handles home assets worth $1.7 bn.

Man Group likewise reported a 6% increase in the worth of funds under management during the 3 months to September and stated it prepared a $100m share buyback.

The 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 grocery store stated on Thursday night that it had actually fixed its prices row with supplier Unilever. Shares in Unilever were down 0.5%.

On the currency markets, the yohaig code pound was trading at $1.2185, down 0.56%, against the dollar.

Against the euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016