Magpies dismiss takeover talk

Newcastle today moved to dismiss speculation they have been taken over in a £227m (€339m) deal.

A report claimed the board had unanimously accepted a bid, which amounted to £140m (€209m) and the club’s £87m (€130m) debt, from US hedge fund Polygon and the United Bank of Switzerland.

However, the Magpies swiftly released a statement to the Stock Exchange denying the claims.

“The board wishes to clarify that it has not accepted any proposals for the company from any party nor is any due diligence being conducted on the company,” it said.

“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.”