Billionaire launches Newcastle takeover

Billionaire businessman Mike Ashley today bought a 41.6% holding in Newcastle to launch a takeover bid.

St James’ Holdings Limited, a company set up specifically to buy shares in the club, has acquired 55,342,223 shares at 100p each from Wynyard (Guernsey) Limited, Cameron Hall Developments Limited and Cameron Hall Developments Limited Executive Pension Scheme, the holdings of Sir John Hall and his family.