Take-over Hits Overdrive
Belgravia's interest comes a week after Newcastle's Premier League rivals Aston Villa agreed to a 62.6 million pound cash takeover by a group led by U.S. billionaire Randy Lerner. And a statement made today confirms the move is more than just newspaper rumour: 'The Belgravia Group confirms that it is examining the potential opportunity of acquiring Newcastle United Plc, which may or may not lead to an offer for the company being made by Belgravia.'.
Shares in Newcastle United jumped 11.5 percent to 69.6 pence a share, valuing the company at close to 96 million pounds.
Newcastle United have once again declined to comment.