bet9ja.com
William Hill shares increase as investor rejects merger plan
bet9ja.com
Shares in William Hill have risen after the betting company's biggest shareholder said it would oppose any merger deal with Amaya.
bet9ja.com
Last weekend William Hill said it was in talk with combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn deal.

But Parvus Asset Management said the merger had "minimal strategic reasoning" and would "damage shareholder worth".

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
bet9ja.com
Parvus said the wagering company ought to consider other all choices 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.
bet9ja.com
"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 arrange out in their own company. I'm really distressed on the future of William Hill."
bet9ja.com
Also on the FTSE 250, shares in Man Group jumped 13.7% after the world's most significant listed hedge fund said it was purchasing investment supervisor Aalto, which handles property assets worth $1.7 bn.
bet9ja.com
Man Group likewise reported a 6% rise in the worth of funds under management during the 3 months to September and said it planned 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 grocery store stated on Thursday night that it had solved its prices row with supplier 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