Preston North End FC in takeover bid
Mon 7th Jun 2010 | Clubs Ownership
Preston North End Football Club looks set to be taken over by Lancashire businessman Trevor Hemmings.
It has been reported by the BBC that Deepdale PNE, the company owned by Hemmings, has acquired 51% of the shares in the Championship club.
However, the agreement must first be accepted by the other shareholders or, as DPNE have stated, the offer will be withdrawn.
Preston North End plc was served with a winding up petition by HM Revenue and Customs on 14 May and all shares in the company were suspended.
DPNE initially held 28% of the shares in the club but that has now increased to 51.4%, triggering a mandatory offer for the remaining shares.
Hemmings, who has already loaned £13.28m to Preston, made a five pence per share offer to the club's other stakeholders.
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