Source: SKY_Sports
Kroenke raises Arsenal stake
// A bit of a hack but it works// The article snippet is wrapped onto a second line, even when #article-sub is emptyif( $("div#article-sub").children().length == 0 ) {$("div#article-sub").remove();} Stan Kroenke has purchased another 427 shares in Arsenal's parent holding company, raising his stake to 29.6 per cent.[LNB] The American business tycoon is already the Gunners' largest individual shareholder, but has increased his power by acquiring a further slice of the club from British industrialist Ernest Harrison.[LNB]The Denver-based sports magnate is now edging towards the 29.9 per cent holding which would, under the City's financial regulations, make him obliged to launch a formal takeover bid.[LNB]Kroenke has preferred to remain quiet on his intentions for Arsenal, giving no indication as to whether he plans to assume full control at Emirates Stadium.[LNB]Any public statements regarding future bid intentions 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.[LNB]Arsenal chairman Peter Hill-Wood has announced that he would have no problem with Kroenke making a bid for the club, but has admitted that he does not expect such a move to happen any time soon.[LNB]
