William Hill And Amaya Abandon Merger Talks

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William Hill and Amaya abandon merger talks


18 October 2016
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British bookmaker William Hill and Amaya, owner of the world's greatest online poker business, have ended talks of a possible ₤ 4.5 bn merger.


William Hill stated it took the decision, external after canvassing views from a variety of major shareholders.
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Last week, its biggest financier, Parvus Asset Management, heavily criticised the tie-up.
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Canada's Amaya, external, which owns PokerStars, stated that staying independent was the very best relocation for investors.
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Amaya said: "Discussions have actually concluded, and Amaya and William Hill have identified that they will no longer pursue the yohaig code merger."
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'Limited logic'


News of the talks emerged previously this promotion code month, with William Hill stating a merger would produce "a clear international leader across online sports wagering, poker and casino".


However, Parvus stated the offer had "limited strategic reasoning" and would "destroy investor worth".
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The FTSE 250 bookmaker is aiming to keep up as much of its close competitors merge. Paddy Power and Betfair have actually merged to create a FTSE 100 betting firm, while Ladbrokes and Coral are combining to become the High Street bookmaker.
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Ladbrokes reported a 12% increase in third-quarter profits on Tuesday, boosted by online development and bad results for fan-favourites Manchester United and Barcelona.


William Hill, which ousted its chief executive in July after a string of profit warnings, saw off a takeover approach from casino company Rank and online operator 888 2 months earlier.
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Meanwhile, Amaya's shares have actually fallen 30% in the previous 12 months amidst an expert trading examination into its former president, the risk of a $870m (₤ 710m) fine in Kentucky, and slowing prospects for online poker.


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