Takeover looms as Kroenke ups stake to 29.9%

ARSENAL’S largest shareholder Stan Kroenke yesterday crept to the brink of a takeover bid when he increased his stake to 29.9 per cent.Billionaire Kroenke, who has been steadily building his shareholding since first investing in April 2007, will be obliged to make a formal offer for the Premier League club if he reaches 29.99 per cent.The American sports tycoon acquired 200 shares, 100 of which were from Gunners chairman Peter Hill-Wood, in a move that further demonstrates Kroenke’s acceptance by his fellow board-members. That is in contrast to their initial scepticism of him and their treatment of rival shareholder Alisher Usmanov, who has 25.5 per cent but has not been offered a seat on the board.Kroenke’s move comes after Arsenal continued their encouraging form with a 4-1 win over AZ Alkmaar.  And ahead of tomorrow’s trip to Wolves, defender Thomas Vermaelen believes they have surprised rivals. The Belgian said: “Maybe we were a little bit underestimated at the start of the season.”