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William Hill shares increase as financier turns down merger plan

Shares in William Hill have increased after the yohaig code betting company's biggest shareholder stated it would oppose any merger handle Canada's Amaya.
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Last weekend William Hill stated it was in talks to combine with Amaya, which owns poker Full Tilt and PokerStars, in a prospective ₤ 4.5 bn bet9ja's welcome offer.
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But Parvus Asset Management said the merger had "limited strategic logic" and would "damage shareholder value".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the betting company should 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 8 years as chief executive of William Hill, stated he "totally supported" Parvus.
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"When this 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 business. I'm really nervous on the future of William Hill."

Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's biggest listed hedge fund stated it was purchasing financial investment manager Aalto, which handles property possessions worth $1.7 bn.

Man Group likewise reported a 6% rise 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 rose 35.81 points to 7,013.55. Tesco was the most significant riser, up 4.41% to 203.7 p. The supermarket stated on Thursday night that it had resolved its prices 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%, versus the dollar.
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Against the euro it was flat at EUR1.1083.
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William Hill in ₤ 4.5 bn merger talks

9 October 2016