William Hill's largest investor 'extremely concerned' about merger

William Hill’s largest investor has come out against its proposed merger with PokerStars owner Amaya, saying the UK bookmaker should pursue a sale instead.

Parvus Asset Management, a London-based activist investor that owns over 14% of William Hill, said it was “extremely concerned” by the potential combination with the Canadian online gambling company, which had “limited strategic logic” and would destroy shareholder value.

Amaya’s core poker business would weaken William Hill’s position in the market as that business is unattractive, Parvus said in a letter to William Hill’s board.