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£133m takeover bid for Newcastle

23 May 2007

Newcastle United Football Club has received a £133m takeover bid from sportswear entrepreneur Mike Ashley.

Ashley – the founder and deputy chair of Sports Direct, the sports retailer – made the offer through an investment vehicle called St James Holdings for 100 pence per share.

The Magpies board will meet soon to consider the offer, but urged United shareholders to take no further action at this stage.

However, Newcastle’s chair, Freddie Shepherd, has publicly opposed a sale and, unfortunately for Ashley, holds 28 per cent of the shares.

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