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Billionaire in Toon buyout
Billionaire businessman Mike Ashley has launched a £133.1m ($263m) offer for Newcastle United Football Club.
The offer came after Ashley said his company, St James' Holdings Ltd, bought a 41.6% stake in the club from Sir John Hall's family for more than £55m.
"I am delighted to have this chance to invest in Newcastle," said Ashley.
Stock Exchange rules state the company now has to make a cash offer for the remaining shares - around 29.8% of that belong to chairman Freddy Shepherd.
Ashley added: "The club has a great infrastructure, for which Sir John and the board must take much of the credit."
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23rd May 2007, 03:56 PM
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