william-hill-and-amaya-abandon-merger-talks

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William Hill and Amaya abandon merger talks

18 October 2016

British bookmaker William Hill and Amaya, owner of the world's biggest online poker service, have ended talks of a possible ₤ 4.5 bn merger.
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William Hill said it took the decision, external after canvassing views from a number of significant shareholders.

Last week, its biggest investor, Parvus Asset Management, heavily criticised the yohaig code tie-up.

Canada's Amaya, external, which owns PokerStars, said that remaining independent was the very best move for investors.
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Amaya said: "Discussions have 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 worldwide leader throughout online sports wagering, poker and casino".

However, Parvus said the bet9ja's welcome offer had "limited strategic logic" and would "damage investor worth".

The FTSE 250 bookmaker is aiming to maintain as a lot of its close rivals merge. Paddy Power and Betfair have combined to develop a FTSE 100 betting firm, while Ladbrokes and Coral are integrating to become the UK's most significant High Street bookmaker.
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Ladbrokes reported a 12% rise in third-quarter revenue on Tuesday, improved by online development and poor results for fan-favourites Manchester United and Barcelona.
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William Hill, which ousted its president in July after a string of earnings cautions, saw off a takeover method from casino company Rank and online operator 888 two months back.
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Meanwhile, have actually fallen 30% in the past 12 months in the middle of an expert trading examination into its previous president, the hazard of a $870m (₤ 710m) fine in Kentucky, and slowing prospects for online poker.

Ladbrokes-Coral offers 359 wagering shops
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