Arsenal says the Premier League has given its approval to the club's takeover by American sports tycoon Stan Kroenke.
|||London – Arsenal says the Premier League has given its approval to the club's takeover by American sports tycoon Stan Kroenke.
Kroenke has raised his stake in Arsenal since last month to 66.06 percent stake after buying shares from the estate of late director Danny Fiszman and former director Lady Nina Bracewell Smith.
Kroenke's mandatory takeover bid values the club at the club at 731 million pounds ($1.2 billion) and the remaining shareholders have another two weeks to accept his offer of 11,750 pounds per share.
On Saturday Arsenal said “it has received the Premier League's confirmation that Stan Kroenke has completed its change of control processes to its satisfaction.” – Sapa-AP
Source: http://www.iol.co.za/arsenal-takeover-given-green-light-1.1075256
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