News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Sports » Liverpool takeover accepted

Liverpool takeover accepted

March 10, 2007 19:45 IST
Get Rediff News in your Inbox:

Liverpool chief executive Rick Parry welcomed Friday's news that shareholders had accepted the takeover of the club by US sports tycoons George Gillett and Tom Hicks, calling it a "historic day".

A Stock Exchange statement confirmed the Americans had received "valid acceptances in respect of 28,089 Liverpool shares, representing approximately 80.7 percent of Liverpool's issued share capital to which the offer relates".

Gillett and Hicks, through their Kop Football vehicle, said last month they had agreed a 174 million pounds takeover and would pay 5,000 pounds per share. The total value of the deal, including debt, was put at 219 million pounds.

Friday's announcement said they had extended their offer to remaining shareholders until 3pm on March 26.

"It's an historic day for the club," Parry told the club's website. "It's obviously very pleasing to hear George and Tom have reached the threshold they required and I'm sure they're equally delighted with the news."

Billionaire Hicks is the owner of the Texas Rangers major league baseball team and the Dallas Stars NHL franchise while Gillett owns NHL's Montreal Canadiens.

The American duo will act as co-chairmen of the Premier League club, with each having a son on the board. Former owner David Moores has been made honorary life president.

Gillett and Hicks said at a news conference to announce the deal last month that they had not built up debt against the club to buy the five-times European champions and would provide money for manager Rafael Benitez to buy players.

 

Get Rediff News in your Inbox:
Source: REUTERS
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

INDIAN PREMIER LEAGUE 2024

INDIAN PREMIER LEAGUE 2024