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Billionaire Usmanov Trumps Kroenke’s Offer for Arsenal Shares

Russian billionaire Alisher Usmanov, Arsenal’s second-largest shareholder, is offering to buy stakes in the English Premier League soccer club at a higher price than majority owner Stan Kroenke.

Usmanov has instructed London-based broker Brewin Dolphin Holdings Plc to make a 14,000-pound ($22,600) per share offer to holders. That’s higher than the 11,750-pound offer Kroenke made last month after buying about 30 percent of the club’s stock from former directors Nina Bracewell-Smith and Danny Fiszman. Usmanov owns 27.4 percent of Arsenal, while Kroenke now holds almost 64 percent.