Newcastle Utd recommends Ashley bid
LONDON (ShareCast) - Premiership football club Newcastle United has agreed the terms of a recommended takeover by billionaire Mike Ashley’s St James Holdings in a deal worth around £134m.
Ashley, founder of recently floated sports goods retailer Sports Direct, will pay 101p for the shares he does not already own.
On 23 May, it was announced that his St James Holdings bid vehicle has already bought around 41.6% of the club from Sir John Hall's family at 100p per share.
That statement said Ashley will, assuming full acceptance under the offer, provide St James with a further £77.8m in cash as funding for the deal on top of the £55.34m already paid.
Nufcmismanagement view:
At last, the end looks to be here.
Shepherd Out