William Hill majority shareholder urges merger – report
Parvus Asset Management, the London-based hedge fund that is currently the largest shareholder in William Hill, has urged the bookmaker to consider pursuing a takeover deal.
According to the Times newspaper, Parvus has said William Hill should align itself with another leading gambling company in order to help ensure a positive future for the firm.
Parvus, which owns around 14% of William Hill’s stock, is an affiliate of tycoon Sir Chris Hohn’s Children’s Investment Fund.
In October of last year, William Hill opened talks with Amaya, the parent firm of PokerStars, over a potential merger deals, but the companies could not come to an agreement.
The newspaper suggested that the bookmaker has identified GVC Holdings, 888 Holdings and The Rank Group as potential options for a merger, although the latter of these failed in a takeover attempt of the bookmaker last summer.
Neither Parvus nor William Hill have officially commented on the reports.
Related article: Amaya and William Hill end merger talks