American Businessman Kroenke Buys More Arsenal Shares
The Canadian Press | December 22, 2009
LONDON - American businessman Stan Kroenke has increased his stake in Arsenal and is now within 17 shares of the threshold that forces him to make a takeover bid. The Premier League club said Monday that Kroenke acquired 25 more shares last week at a cost of 212,500 pounds (C$361,575).
The Denver-based businessman took his stake in Arsenal to 29.9 per cent last month. If he reaches 30 per cent, he has to make an offer for the remaining shares.
Alisher Usmanov is the club's second-largest shareholder with 26 per cent, but the Russian businessman has not been invited on the board of directors.
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