http://news.bbc.co.uk/sport1/hi/football/13040475.stmAmerican businessman Stan Kroenke has increased his shareholding in Arsenal to more than 62% and agreed to make an offer for the rest of the club.
A full takeover was triggered after Kroenke Sports Enterprises acquired the stakes of Danny Fiszman (16.1%) and Lady Nina Bracewell-Smith (15.9%).
The terms of KSE's offer have been agreed, with Arsenal shares priced at £11,750 and the club's value at £731m.
Kroenke first bought 9.9% of shares in Arsenal in 2007.
"We are excited about the opportunity to increase our involvement with and commitment to Arsenal," said 63-year-old Kroenke, whose company also controls basketball's Denver Nuggets, ice hockey side Colorado Avalanche, American football team the St Louis Rams, and Major League Soccer outfit the Colorado Rapids.
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Although 27% of the club is owned by oligarch; Uzbeki billionaire Alisher Usmanov; there's going to be a boardroom cold war going on for a few years!
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