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William Hill shares increase as investor turns down merger strategy

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

Last William Hill stated it remained in talk with combine with Amaya, which owns poker websites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn bet9ja's welcome offer.

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

Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the yohaig code betting firm ought to think about other all choices to maximise shareholder returns, consisting of a possible sale.
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Ralph Topping, who stepped down in 2014 after 8 years as president of William Hill, stated he "completely 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 sort out in their own company. I'm very distressed on the future of William Hill."
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Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's greatest listed hedge fund said it was buying investment manager Aalto, which handles residential or commercial property assets worth $1.7 bn.

Man Group likewise reported a 6% rise in the worth of funds under management throughout the three months to September and said it prepared a $100m share buyback.
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The blue-chip FTSE 100 index rose 35.81 points to 7,013.55. Tesco was the greatest riser, up 4.41% to 203.7 p. The supermarket said on Thursday night that it had resolved its pricing row with provider 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%, against the dollar.
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Against the euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016