Takeover looms at Arsenal

American businessman Stan Kroenke, has moved within a fraction of launching a mandatory takeover bid for English Premier League Club Arsenal.



Kroenke, the London club\'s largest shareholder, increased his stake to 29.6 per cent, just short of the 29.9 per cent needed to force a takeover. He previously held a 28.9 per cent stake.



The Denver-based businessman\'s latest acquisition of 427 shares, cost him about ₤3.6 million.



In Britain, individuals or groups wishing to make a takeover bid must be unambiguous with their intentions or face a six month penalty before being able to launch the bid.



The Arsenal Supporters Trust, a fans\' group that has been seeking a meeting with Kroenke, released a statement today stressing that it opposes a full takeover of the club.