Deals
William Hill Abandons Amaya Merger Talks on Investor Dissent
- Parvus co-founder Gensmann ‘pleased’ deal has fallen apart
- Deal would have formed world’s largest online gambling company
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William Hill Plc and PokerStars owner Amaya Inc. of Canada ended merger discussions, squelching one of the biggest possible deals in the betting industry after U.K. activist investor Parvus Asset Management opposed the union.
William Hill will continue to consider strategic alternatives, the London-based company said Tuesday. In a separate statement, Amaya said its board concluded that remaining an independent publicly-traded corporation best positions it to deliver long-term value. Parvus, which holds an economic interest in about 14 percent of William Hill’s equity, said it was pleased by the decision after coming out against the deal last week.