Kroenke edges closer to bid

Ten more shares puts businessman on the brink of takeover

Last updated: 23rd November 2009   Subscribe to RSS Feed

Kroenke edges closer to bid

Kroenke: Edging closer

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American businessman Stan Kroenke has bought 10 more shares in Arsenal to put him even closer to the threshold that forces him to make a takeover bid.

The Premier League club announced on Monday that Kroenke, who is also a director of the club, has control of 18,604 ordinary shares in the company.

That represents a 29.9 per cent holding and if he reaches 30 per cent mark then he has to make a takeover bid.

The Denver-based businessman owns the Colorado Rapids MLS team, basketball's Denver Nuggets and the Colorado Avalanche hockey team.

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