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William Hill shares increase as financier declines merger strategy
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Shares in William Hill have risen after the wagering company's largest shareholder said it would oppose any merger deal with .
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Last weekend William Hill stated it remained in talk with combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn offer.
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But Parvus Asset Management said the merger had "limited strategic logic" and would "destroy investor worth".
Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the yohaig code wagering company needs to think about other all choices to increase shareholder returns, including a possible sale.
Ralph Topping, who stepped down in 2014 after 8 years as primary executive of William Hill, stated he "totally supported" Parvus.
"When this promotion code bet9ja's welcome offer was revealed I was left scratching my head," he told the yohaig code Financial Times, external. Both [Amaya and William Hill] have a lot to figure out in their own service. I'm very distressed on the future of William Hill."
Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's greatest listed hedge fund stated it was buying investment manager Aalto, which manages home possessions worth $1.7 bn.
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Man Group also reported a 6% rise in the yohaig code value of funds under management throughout the three months to September and stated it prepared a $100m share buyback.
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The blue-chip FTSE 100 index increased 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 actually fixed its prices row with supplier Unilever. Shares in Unilever were down 0.5%.
On the yohaig code currency markets, the pound was trading at $1.2185, down 0.56%, versus the dollar.
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Against the yohaig code 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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William Hill Shares Rise As Investor Rejects Merger Plan
geraldinefulch edited this page 6 months ago