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William Hill and Amaya desert merger talks
bit.ly
18 October 2016
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British bookmaker William Hill and Amaya, owner of the world's biggest 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 investors.

Recently, its greatest investor, Parvus Asset Management, greatly criticised the tie-up.
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Canada's Amaya, external, which owns PokerStars, stated that staying independent was the finest relocation for investors.
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Amaya stated: "Discussions have actually concluded, and Amaya and William Hill have identified that they will no longer pursue the merger."

'Limited reasoning'

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

However, Parvus said the deal had "restricted tactical reasoning" and would "damage investor value".
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The FTSE 250 bookie is looking to keep up as a lot of its close rivals merge. Paddy Power and Betfair have merged to develop a FTSE 100 betting firm, while Ladbrokes and Coral are combining to become the UK's greatest High Street bookie.
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Ladbrokes reported a 12% rise in third-quarter revenue on Tuesday, increased by online development and poor results for fan-favourites Manchester United and Barcelona.

William Hill, which ousted its president in July after a string of revenue warnings, saw off a takeover approach from casino firm Rank and online operator 888 two months back.
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Meanwhile, Amaya's shares have fallen 30% in the past 12 months amid an expert trading into its former president, the danger of a $870m (₤ 710m) fine in Kentucky, and slowing potential customers for online poker.

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