Independent – Newcastle yesterday confirmed they have received an approach regarding a possible takeover from the US hedge fund Polygon amid increasing speculation about a possible sale.
The club issued a statement to the Stock Exchange confirming that St James’ Park Group Limited, a consortium backed by Polygon Global Opportunities Master Fund, are one of the groups interested in purchasing the club.
The Newcastle chairman, Freddy Shepherd, informed the company’s members of the development during Tuesday’s annual general meeting, and yesterday’s announcement formalises that in line with Stock Exchange regulations.
The statement read: “The board of Newcastle notes the press comment following yesterday’s AGM and confirms that St James’ Park Group Limited [a consortium backed by Polygon Global Opportunities Master Fund] is one of the parties that has made an approach to the board of Newcastle regarding a possible offer for Newcastle.
“The board wishes to reiterate that it has not accepted any proposals for the company from any party nor is any due diligence being conducted on the company. Therefore, there can be no certainty that an offer will be made, nor as to the terms on which any offer would be made. A further statement will be made as appropriate.”
