Saturday, March 27, 2010

Stan Kroenke nears mandatory takeover

American Businessman Stan Kroenke, who is valued at £1.9 billion is
just a few shares shy of securing his stranglehold at the North London

The business tycoon commands a staggering proportion of Arsenal
shares. And the outfit recently brought to the notice of the London
Stock Exchange, the seemingly good news that they have sold seven more
shares at a cost of £8,500 to the 62-year-old who is keen on
completing the takeover.

The businessman currently owns 29.9 per cent of the club and he will
be empowered legally to gain control of the club if he acquires more
than 50 per cent of the shares. And also, Kroenke is expected by law
to make an offer for the remaining shares in Arsenal Holdings Plc if
he reaches 90 per cent.

I think this new development is good for the club. If you think otherwise be free to write in the comment box.