Kroenke ups his shares in the Arsenal

Kroenke ups his shares in the Arsenal

by CARL ELDRIDGE The stars and stripes will soon be flying over the Emirates Stadium. Well, maybe not but surely it can’t be much longer before Yank billionaire Stan Kroenke launches a takeover bid for the Arsenal.
For the Denver Nugget has snapped up a further 10 shares in our holding company, at a cost of £85,000 and now the odd-haired moneybags owns 28.9 per cent of  the glorious Gunners.
Kroenke is already the club’s biggest individual shareholder and he is closing in on the 29.9 per cent he needs to launch a formal takeover bid.
Kroenke lived up to his Silent Stan mantle at last week’s AGM as he stayed tight-lipped over his intentions but actions would appear to speak louder than words.
Don’t forget he tycoon recently forked out £765,000 to surpass Alisher Usmanov as Arsenal’s top shareholder
Any public statement regarding a possible bid must be unambiguous, otherwise the individual or group would, under the Takeover Panel’s rule 2.8, be prevented from making a formal move for six months.
Kroenke’s latest dealings have been confirmed to the Plus market, with the following statement released: “On 26th October 2009, Arsenal Holdings plc (the “Company”) received notification that on 26th October 2009 Stan Kroenke, a director of the company, acquired 10 ordinary shares of £1.00 each in the company at a price of £8,500 per share.
“Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,967 ordinary shares in the company, representing 28.9% of the company’s issued ordinary shares.”
Despite Kroenke’s continued acquisition of power at Emirates Stadium, Peter Hill-Wood said  he did not envisage a takeover attempt being put in place any time soon.
“I don’t think we are looking for a change in custodian,” he said. “I think you will find the club is in pretty good hands. I believe he [Stan] is happy to be a long-term shareholder in our club.”
Time will tell…

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