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Breaking news: Sir John Hall sells his share


Jimbo
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Billionaire businessman Mike Ashley has bought a 41.6 per cent stake in Newcastle ahead of a proposed takeover.

 

Ashley, who made his fortune in retail and in February floated Sports Direct, has paid Sir John Hall and his family £55million for the stake.

 

Ashley has offered to buy the rest of the club's shares at the same price, which would value the St James' Park outfit in the region of £133million.

 

Stock Exchange rules mean that St James' Holdings Limited, Ashley's bid vehicle, must now make a cash offer for the remaining shares, around 29.8 per cent of which belong to chairman Freddy Shepherd.

 

 

 

 

Sky Sports.

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From the ST Rich List 2007

 

The reclusive Ashley, 42, pocketed £929m in a day — the most made by a Briton in 24 hours — when he floated Sports Direct in February. The former squash coach has built a sports goods empire including Lillywhites in London and the Dunlop and Kangol brands. Sports Direct was valued at about £2 billion at the float and, although the shares fell in the subsequent global market turmoil, he retained a £1.02 billion stake.
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Well, seen as he now owns over 29.7% he has to make a formal offer for a takeover.

 

 

Was going to say the same thing - does this put Shepherd in a postion off going with what this fella wants or risk his shares being worth nothing? (Pretty much the situation Man Utd were in with the Glazers?)

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Well, seen as he now owns over 29.7% he has to make a formal offer for a takeover.

 

 

Was going to say the same thing - does this put Shepherd in a postion off going with what this fella wants or risk his shares being worth nothing? (Pretty much the situation Man Utd were in with the Glazers?)

 

Seen as McManus and Magnier owned 29.8% looks like 29.9% is the figure needed which he is well over.

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I know this has been coming when you look at the rest of the clubs who haven't been bought we are by far the largest (turnover wise i mean just before we get in to the big club argument) but i wonder if there is any sentimental connection rather than purely business

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The offer came after the retail entrepreneur said he had bought a 41.6% stake in the Premiership team from Sir John Hall's family for more than £55m.

 

Mr Ashley said his firm St James Holdings Limited (SJHL) had bought 55.3 million shares in the club at 100 pence a share.

 

He added that his offer priced the rest of the club's shares at the same level.

 

Earlier this year Mr Ashley earned himself more than £900m after the flotation of his Sports Direct retail chain which he set up in 1982.

 

The group runs the Sports World retail chain and Lillywhites, and its brands include Dunlop, Kangol and Karrimor. SJHL added that the offer price represented a 19% premium on the 84p closing price of Newcastle's shares on Tuesday 22 May. [/size]

Edited by khay
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Guest Patrokles

Can't see someone spending that kind of money if he doesn't think he won't be able to buy the rest of the shares, to be honest.

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could this be, good timing or what, the ball is now in shephards court, will he hang on and spoil everything again, or be a true fan and do whats best for the club and bugger off

 

Shepherd has always said, if a billionaire comes and wants to plough money into our success that's the only way he'd sell. Looks like exactly that situation.

 

But then Shepherd's never been a man of his word.

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could this be, good timing or what, the ball is now in shephards court, will he hang on and spoil everything again, or be a true fan and do whats best for the club and bugger off

 

Shepherd has always said, if a billionaire comes and wants to plough money into our success that's the only way he'd sell. Looks like exactly that situation.

 

But then Shepherd's never been a man of his word.

 

Said I loved my wife this morning, bla bla...

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The bit that jumps out at me on NUFC.COM's page is:

 

British stock exchange rules mean that the company now has to make a cash offer for the remaining shares, around 29.8% of which belong to chairman Freddy Shepherd

 

If Sima's figure is correct, despite all that frantic share buying that Shepherd did, he missed being able to make a formal offer by 0.1% ;):D:lol:

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The bit that jumps out at me on NUFC.COM's page is:

 

British stock exchange rules mean that the company now has to make a cash offer for the remaining shares, around 29.8% of which belong to chairman Freddy Shepherd

 

If Sima's figure is correct, despite all that frantic share buying that Shepherd did, he missed being able to make a formal offer by 0.1% ;):D:lol:

 

Genius :icon_lol: If that's true, typical Fat Fred

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could this be, good timing or what, the ball is now in shephards court, will he hang on and spoil everything again, or be a true fan and do whats best for the club and bugger off

 

Shepherd has always said, if a billionaire comes and wants to plough money into our success that's the only way he'd sell. Looks like exactly that situation.

 

But then Shepherd's never been a man of his word.

He isn't a Geordie though...

 

I'll wait and see what I make out of it when the intentions of this deal become a bit clearer. But getting rid of Dougie is surely the best thing out of it so far.

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