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LONDON (AP) - American businessman Stan Kroenke has moved closer to a mandatory takeover bid of Arsenal after buying another 200 shares in the Premier League soccer club.
The London club's largest shareholder increased his stake to 29.9 percent, nearing the 30 needed to force a takeover. He previously held a 29.6 percent stake.
Kroenke's latest acquisition cost him $2.8 million. Half the shares came from Arsenal chairman Peter Hill-Wood.
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