Arsenal Duo Set For Takeover Bidding War
A potential takeover bid by either of Arsenal’s two biggest investors – US entrepreneur Stan Kroenke or Uzebki businessman Alisher Usmanov – could be on the horizon after the Premier League club’s fourth-largest shareholder, Lady Nina Bracewell-Smith, appointed a firm to find a buyer for her shares.
Bracewell-Smith, who owns 15.9% of shares, has retained US brokers Blackstone to sell her shares.
The move could prompt a bidding war between Kroenke and Usmanov who have being manoeuvring their respective shareholdings in recent months to prepare themselves for a takeover bid.
Blackstone has been advising Lady Bracewell-Smith, who left the Arsenal board in 2008, about her stake in the club for about six months.
Kroenke currently owns 29.98% of Arsenal shares, while Usmanov holds 26.29%.
If a shareholder’s stake in a company reaches 30%, he or she has to offer to buy the entire stockholding.
Arsenal shares are currently valued at about £10,000 each.
Kroenke also owns the NBA’s Denver Nuggets basketball side, the Colorado Rapids MLS football team, and 40% of the NFL’s St Louis Rams American football team.
