37°2 - 4/15/2011 10:52:00 AM
超过30%的股份，就是说你必须发起收购，但别人有权拒绝你的收购，一旦收购失败，就必须再等待一段时间才能发起下次收购，至于等待时间，就不清楚是多久了。
而一旦拥有90%的股份，就可以强制收购了，这意味着你不想出售也得出售了。
所以现在的重点就是那个俄罗斯大胖了，如果他愿意把股票卖给美国人，握有俱乐部90%股权的克伦克就可以强制性要求持有俱乐部小额股份的“散户”们，将自己手中的股份出售给自己。
不过目前俄罗斯人已经强调不会出售股票给克伦克。
37°2 - 4/15/2011 10:53:00 AM
发现很多人不了解30%和90%的区别，所以发帖解疑，了解的人可以路过:default10:
yytlove - 4/15/2011 10:56:00 AM
以为再说 阿尔沙文的路过
leems - 4/15/2011 11:00:00 AM
我有点迷糊，超过30%必须要发起收购，但别人又可以拒绝收购，那……这个“必须”是不是等同于没用？如果别人一直拒绝，那这个收购等于一句空话吗？:default9:
37°2 - 4/15/2011 11:14:00 AM
总有不会拒绝的，你可以收购到90%，再去收购那些不愿意出售股票的
不过那些愿意出售股票的，加起来有30%左右吗:default10:
37°2 - 4/15/2011 11:32:00 AM
俱乐部收到了来自罗思柴尔德集团作为独立顾问的建议，推荐现有股东接受克伦克公司的报价:default10:
铁杆_阿森纳 - 4/15/2011 11:35:00 AM
这个东西到现在还是很悬乎啊~
37°2 - 4/15/2011 12:09:00 PM
因钢铁和金属市场上扬，乌斯玛诺夫目前资产约达180亿英镑，完胜阿布拉莫维奇。他还决定买下Facebook部分股权。目前若出售持有的27%股份，他将套现2亿英镑。但这笔钱还不到其财富零头，他也显然没有财政压力。
对克伦克本次闪电收购战，乌氏直到上周日都完全蒙在鼓里。等获悉后“气得发抖”。随后他加入战团，向妮娜-密斯女士两次出价，最高达1.3万镑每股，这个叫价将让史密斯女士套现1亿2860万英镑，比接受克伦克报价额外多收入1236万英镑。但史密斯女士最终信守承诺。
因持有62.89%股份，克伦克目前在年度股东大会上已可对指派CEO等俱乐部“普通”事务拥有决策权，但他需要乌氏的部分股份才能将持股比例超越75%，只有那时他才能决定重大资本事务。因此乌氏一日为“钉子户”，克伦克就一日无法真正全盘掌控枪手。
上周末，费兹曼身患癌症病重临危的消息在英国枪迷论坛小范围流传。据悉，长居瑞士的前枪手第一股东已到弥留之际。一天后，股票市场就传出克伦克收购费兹曼16.1%枪手股份的消息。这并非斯坦眼疾手快，而是按阿森纳2007年底的“股份锁定协议”规定，董事们如要转卖股份，董事会其他成员将是“第一选择”。进入董事会两年多来，克伦克毕恭毕敬，刻意为善，不时手握队刊，躬逢枪手比赛。不经意间，他就成了“第一选择”。在早就探知费兹曼之子无意继承股份后，克伦克立即和费兹曼协议，一旦后者卖股，KSE将是第一买家。
stussy574 - 4/15/2011 1:37:00 PM
关键是对我们有好处没。。。揪心啊。
ˊ尕呆Ъ - 4/15/2011 1:45:00 PM
...感觉 这样下去..这个夏天不会又好结果吧.
又或者克伦克会为了拉拢民心而花大手笔?但是阿森纳又有个出了名节俭的温格帮它做挡箭牌,究竟会怎样呢,纠结.
小克 - 4/15/2011 3:05:00 PM
就是说你必须发起，但拒不拒绝是别人的事
hubert_gao - 4/15/2011 5:56:00 PM
钉子户顶住啊
sword - 4/15/2011 6:08:00 PM
拉俄国人进董事会，苏美联合，开创新的时代，什么都解决了。
怪兽叔叔 - 4/16/2011 1:50:00 AM
山崎说错了吧，30%是如果要继续增持股份，必须要向别的股东发出全面要约。。。
什么必须收购，我只够钱买30%，但我没钱买100%，难道也要强制我收购，国家给钱我啊。，用屁股想以下就知道啦。。。。。。
sword - 4/16/2011 11:15:00 AM
是的，强制收购是对收购人来说的，不管你有没有钱，必须报价给其他股东。
johnchen01 - 4/17/2011 11:40:00 AM
多谢答疑
飞毯 - 4/17/2011 3:50:00 PM
我更糊涂了：
既然已经有90%的股份了，那还用得着全面收购吗？？？
按理说，拥有50%以上的股权，就已经是公司老板了啊。
怪兽叔叔 - 4/18/2011 2:42:00 AM
The offer was triggered by an agreement between Kroenke's company, KSE, and DF Nominees (the company holding Danny Fiszman's interests in Arsenal Shares) whereby KSE will have the right to buy DF Nominee's 16.11% stake within 20 days of Fiszman's death. Along with KSE's 29.9% holding, that agreement effectively gave the US group control of more than 30% of Arsenal shares - which means it is compelled to make an offer to all Arsenal shareholders under the Takeover Code (Rule 9). Separately, KSE has agreed to acquire Lady Nina Bracewell-Smith 16.79% stake, plus smaller shareholdings of Arsenal directors. In total KSE now speaks for 62.89% of Arsenal shares.
KSE now has four weeks to launch its offer to other Arsenal shareholders - which will involve it sending out formal documents to shareholders. This offer must stay open for a minimum of 21 days, but can run for three months.
Once the shareholders have received the offer, they can either accept or decline it. In order for the Arsenal shares to be de-listed from Plus Markets - the junior stock exchange on which they are traded - KSE will need to control more than 75% of the shares. Even if the company got above 75%, that does not necessarily mean that the shares will be de-listed - for example if there are substantial numbers of independent shareholders who still want to hold their shares in a public company there could be a case where these shares are still traded on the stock market. However, even if the shares remained traded on Plus, KSE would have control of the company - and therefore the club.
KSE says that if it acquires more than 90% of Arsenal shares (which would mean it had bought Alisher Usmanov's 27% stake) it might consider a compulsory purchase of any remaining shares - meaning that Arsenal shareholders who had refused to sell will have no choice but to cash in their holding.