Kroenke moves closer to Arsenal takeover threshold
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updated 10:10 a.m. ET Nov. 23, 2009
LONDON - American businessman Stan Kroenke has bought 10 more Arsenal shares to put him closer to the threshold that forces him to make a takeover bid.
The Premier League club announced on Monday that Kroenke, who is also a director of the club, has control of 18,604 ordinary shares in the company, representing 29.9 percent. If he reaches 30 percent, he has to make a takeover bid.
The Denver-based businessman owns the Colorado Rapids, Denver Nuggets and the Colorado Avalanche.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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