William Hill’s largest shareholder is reported to be pushing for a sale of the UK-based bookmaking giant.
Danish financier Mads Eg Gensmann, head of London hedge fund Parvus Asset Management, has been lobbying Hills’ board for months on the issue, according to a recent report in Britain’s Sunday Times.
Parvus currently owns 14 percent of the FTSE 250 company.
The report said the fund is seeking an outright sale rather than an industry merger of the type Hills was pursuing last fall with Toronto’s Amaya, a potential £5 billion tie-up that Parvus quashed, claiming it had “no logic and no value”.
The company lost its CEO last August and more recently has issued a profit warning covering its full-year 2016 results, saying group income could be down by £20 million as a result of bad luck in December on football and racing.
The group is slated to present full-year results on February 24.
