Kroenke to be pumped for answers at Arsenal AGM

American billionaire Stan Kroenke faces a grilling at today's Arsenal AGM.The Times says the American has increased his stake substantially in recent months to a level that is a little short of that which would trigger a mandatory takeover bid, but he has never spoken about the reasons for investing about £160 million in the stock.Arsenal's promising start this season will probably ensure an upbeat tone to the meeting at the Emirates Stadium, in contrast to the confrontational atmosphere when shareholders previously had an opportunity to question the club, in May, after a fourth consecutive season without a trophy.Peter Hill-Wood, the chairman, will face scrutiny after he said that he would "welcome" a takeover from Kroenke, having claimed that Arsenal did not want "his sort" when the American began buying shares in 2007.Kroenke faced no questions when he attended his first annual meeting as a director a year ago, since when he has increased his holding from 12.19 per cent to 28.86 per cent to become the club's largest stakeholder. He could easily purchase the 646 additional shares required to exceed the mark to make a formal offer for the club under Stock Exchange rules.

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