[Achilles]

Lansdowne Partners (American Hedge Fund Company) hold 4% and are apparently pledged to Kroenke/Dein. One imagines this is simply because a takeover increases the value of their shares dramatically. This company actually bought shares in Arsenal in 2005 and increased that stake very recently to the amount required. This gives Kroenke the option to announce a takeover at any time he chooses which may be next week but most likely not. By dividing the holdings amongst several people in this way he can't be accused of trying to circumvent stock market rules should he decide to wait for a meeting with other large shareholders, most notably Fiszman. Infact over 50% of the shares are held by Kroenke, Dein and Fiszman alone and the hedge fund option would only be exercised in the event of a hostile takeover. This is very unlikely as purchasing the loyalty of any current board members would almost certainly prove prohibitively expensive.