William Hill shares rise as investor turns down merger plan

Shares in William Hill have increased after the yohaig code wagering business's largest shareholder said it would oppose any merger handle Canada's Amaya.

Last weekend William Hill said it was in speak to merge with Amaya, which owns poker websites Full Tilt and PokerStars, in a prospective ₤ 4.5 bn deal.

But Parvus Asset Management said the merger had "restricted tactical logic" and would "damage investor value".

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

Parvus said the yohaig code wagering company ought to consider other all options to maximise shareholder returns, consisting of a possible sale.

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

"When this promotion code 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 organization. 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 most significant listed hedge fund said it was buying financial investment supervisor Aalto, which handles residential or commercial property assets worth $1.7 bn.

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

The blue-chip FTSE 100 index increased 35.81 indicate 7,013.55. Tesco was the greatest riser, up 4.41% to 203.7 p. The supermarket said on Thursday night that it had actually fixed its rates 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%, against the yohaig code dollar.

Against the euro it was flat at EUR1.1083.

William Hill in ₤ 4.5 bn merger talks

9 October 2016