Kroenke buys more shares and inches closer to Arsenal takeover
The American billionaire shareholder has bought another ten Arsenal shares today, which takes him to just 0.1% away from a takeover at the club.
Just a few more and he will reach the 30% which will trigger his bid for a complete takeover at the club.
The BBC explained the official rules of what will happen if he gets the magic 30%.
TAKEOVER GUIDELINES
Once someone reaches a 30% shareholding in a company they are deemed by the Takeover Panel to have “effective control” of the firm and must then make an offer for the remaining shares.
The price offered cannot be lower than the highest price the offerer has paid for shares in the firm in the previous 12 months.
If, after the offer has been made, the offerer has more than 50% of the shares they are deemed to have been successful in their takeover and legally in control.
If an offer is unsuccessful and the 50% shareholding level is not breached then the offerer cannot come back with another takeover attempt for 12 months, unless invited to do so by the company
Kroenke is known in the financial world as “Silent Stan” and he has lived up to his name by giving no indication of what he will do if he becomes the majority shareholder.
Arsene Wenger has said that he doesn’t care who owns the club, as long as they don’t interfere with the running of the team.
Does anyone think a takeover will be good for the Gunners?
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If taking over d club iz best den let hope 4 success, gooner til eternity.
In a perfect world the owner of Arsenal, or any other club for that matter, would be an avid supporter but not interfer in team protocol, training, purchasing or team selection.That doesn`t mean he can`t have his opinions, just has to be careful what he says. But that`s in a perfect world.Kroenke is in it for the money, why wouldn`t he be he`s laying out a lot. I just hope that he enters into it in the right spirit so that he can enjoy his investment and allow others to do the same.
If Stan takes over i hope they will b undestanding with wenger and stan.we the fans in the whole world do not want oppressions.let follow d rules of the game so that the Aesthetics of AFC Can flow.i pray let things work well.arsenal Akbar.