Lot of media reports this morning about Stan Kroenke’s intentions at Arsenal. After wading through them a couple of pieces of information stood out for me.
- When Kroenke eventually launches his takeover bid, under stock market rules he has to offer all the other shareholders the highest price that he himself has paid in the last 12 months for shares. That is the £10,500 per share he paid to the Carr family for 4,839 shares (7.7 per cent of Arsenal) in May.
- Kroenke paid £8,500 for the shares he bought this week, by waiting until the 12 months expire (May 2010), he would be able to save himself about £2,000 per share less, a saving of £88m.
- Kroenke still owes Danny Fiszman £50 million for the shares he bought from him, which raises a red flag about whether Kroenke has the cash to buy the club.
- Usmanov has basically no chance of being able to stop a Kroenke takeover, which leads to wonder what his long-term goal is.
- The Independent estimates that around one per cent of Arsenal’s shareholders, dating back generations, are actually dead.
- With the purchase of the shares this week, Arsenal is valued at around £528.8m.
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I don’t understand very well about shares and such a thing but I hope our club is running on the right path. Long life Gunners !
Perhaps he is getting as much shares as he can below the 29.9% mark for when a takeover does happen he stands to make lots of profit?
The problem Toby is that the way the other shares are distributed, it would be really hard for someone else to launch a takeover, unless they were willing to pay a lot more than Kroenke did
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