William Hill's largest shareholder Parvus rejects Amaya deal

Thu Oct 13, 2016 12:57pm EDT
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LONDON Oct 13 (Reuters) - The largest shareholder in British betting company William Hill, Parvus Asset Management, said it opposes the firm's planned reverse takeover of Canadian firm Amaya in a letter to the firm's board seen by Reuters.

Parvus said the deal has "limited strategic logic and would destroy shareholder value" in the open letter dated Oct. 13, and it wanted the firm to consider "all alternative options for maximising shareholder value", including a sale of the firm.

(Reporting by Simon Jessop; editing by Pamela Barbaglia)