A story has appeared in this afternoon’s London Evening Standard (Mon 12/4/10) from Simon English saying that Lady Nina Bracewell-Smith who owns 15.9% of the shares in Arsenal has appointed American bankers Blackstone, a private bank based in New York.
It seems highly unlikely to me and others better informed on these things than I that Lady Nina Bracewell-Smith will be able to attract an offer higher than the £8,500 a share currently being paid by Stan Kroenke. He’s not even going to offer her that until he’s passed the year milestone which will enable him to make an all-shares offer at that price. There is some suggestion that any person who makes an offer which is NOT triggered by the City Takeover Panel rules requiring a mandatory bid can offer what they like but that’s unclear.
Alisher Usmanov MIGHT be tempted, but it would be going all-in. He’d still be a good way off majority control. The board and their close associates control enough to keep control out of his hands. Money talks of course. If Usmanov were to make a really silly offer Kroenke might be tempted to cash in and walk away with a big profit.
It will be interesting to hear what, if anything, Lady Nina has to say about this story. Those good people at Arsenal Supporters’ Trust are keeping a very close eye on developments.
As the old Chinese curse goes, “May you live in interesting times”.
Keep the faith!
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