William Hill Withdraws From Merger Discussions With Amaya - Quick Facts

(RTTNews) - The Board of William Hill PLC (WMH.L) announced, after canvassing views from a number of major shareholders, it has decided the Group will not pursue discussions with Amaya. On 10 October 2016, the Board said it was in discussions regarding a potential all share merger of equals with Amaya.

William Hill said its share buy-back programme, which has been suspended since 23 July 2016, will now recommence. The Board of William Hill continues to expect operating profit1 for 2016 to be at the top end of the previously guided 260-280 million pounds range.

Separately, Amaya Inc. (AYA, AYA.TO) said that the Special Committee of independent directors of the Group's Board has announced the completion of its strategic alternatives review. Following an extensive review, upon the unanimous recommendation of the Special Committee, the Board concluded that at the current time remaining as an independent publicly-traded corporation best positions Amaya to deliver long-term shareholder value.

Amaya also said it has been informed by former CEO, David Baazov, that he continues to be interested in acquiring all of the outstanding shares of Amaya. The Group said, while the Board will consider any bona fide offer that Baazov or any other party may make, its review of strategic alternatives has concluded.