Kroenke acquires more shares

21 December 2009 03:40
Stan Kroenke has edged another small step closer to launching a full takeover bid for Arsenal after again marginally increasing his stake in the club. The American businessman has acquired another 17 shares in the north London club, which has taken his stake up to 29.9 percent. He is now just a whisker away from the 30 per cent mark which would compel him to make a formal offer for the rest of the club's shares. Last week, the Denver-based sports magnate purchased another 25 shares in the Gunners at a cost of £212,000. Reports claim that Kroenke is expected to go head-to-head with Alisher Usmanov - the club's second largest investor - in a takeover battle next year.

Source: ESA