Deal agreed for Preston takeover

04 June 2010 08:15
A deal has been agreed for a takeover of Preston North End by Lancashire businessman Trevor Hemmings.Deepdale PNE, the company owned by Hemmings, has acquired 51% of the shares in the Championship club. [LNB]The agreement must first be accepted by the other shareholders or, as DPNE have stated, the offer will be withdrawn. [LNB]Preston North End plc was served with a winding up petition by HM Revenue and Customs on 14 May and all shares in the company were suspended. [LNB]DPNE initially held 28% of the shares in the club but that has now increased to 51.4%, triggering a mandatory offer for the remaining shares. [LNB]Hemmings, who has already loaned £13.28m to Preston, made a five pence per share offer to the club's other stakeholders.

Source: BBC_Sport