Kroenke cranks up Arsenal stake

December 21, 2009

American sports magnate Stan Kroenke has moved to within 17 shares of the threshold requiring him to mount a takeover of Arsenal after upping his stake in the English Premier League club.

The London side said on Monday that Kroenke had acquired 25 more shares last week at a cost of 212,500 pounds (342,099 dollars).

The Denver-based Kroenke increased his stake in Arsenal to 29.9 percent last month.

If he ups his holding to 29.99 percent, Kroenke must, under English company law, make an offer for the remaining shares – in effect, launch a takeover bid.

Kroenke, who has been increasing his holding in Arsenal in recent months, declined an opportunity at the club’s October annual general meeting to clarify his intentions, fuelling speculation a takeover bid could be imminent.

Some of his shares in the club have been purchased from Arsenal chairman Peter Hill-Wood.

That was seen as an indicator of the Arsenal hierarchy’s preference for Kroenke over Arsenal’s second-biggest shareholder, Alisher Usmanov, whose company Red and White Holdings holds a stake of just under 26 percent.

Arsenal, who beat Hull City 3-0 at the Emirates Stadium here on Saturday, are currently third in the Premier League table – six points behind leaders Chelsea but with a game in hand.

LONDON (AFP)

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Kroenke on brink of Arsenal takeover bid

November 5, 2009

American sports magnate Stan Kroenke has edged a step closer to a possible bid for full control of Arsenal by increasing his stake in the club’s holding company to 29.9 percent.

That is just short of the 29.99 percent threshold at which British company law requires investors to make an offer to buy out all the other shareholders.

Kroenke declined an opportunity to clarify his intentions at Arsenal’s annual general meeting last month, which fuelled speculation that a bid could be imminent.

The latest increase in Kroenke’s stake followed the acquisition of 200 shares, half of which were sold to him by Peter Hill-Wood, the Arsenal chairman.

That move will be seen as an indicator of the Arsenal hierarchy’s preference for Kroenke over Arsenal’s second-biggest shareholder, Alisher Usmanov, whose company Red and White Holdings holds a stake of just under 26 percent.

Kroenke has also been able to purchase shares from another board member, Danny Fiszman, who has around 16 percent of the holding company.

LONDON (AFP)