Aston Villa Takeover Bid

Aston Villa plc have confirmed a preliminary takeover approach from lifetime Villa fan Michael Neville.

Neville’s takeover bid is currently been treated as speculative by the Midlands football club, who say the group have yet to confirm their financial strength.

Reports last weekend indicated that Neville was spearheading the takeover bid on behalf of Brian and Luke Comer, a pair of Irish brothers who own the Comer Homes Group.

Making a statement to the London Stock Exchange, members from Aston Villa’s board announced:

"The directors of Aston Villa plc have noted the weekend press comment and confirm that they have received a preliminary approach from Mr Michael Neville on behalf of a consortium group, which could lead to an offer for the company.

"However, the board have not met with any other members of the consortium group nor received any confirmation of the availability of sufficient funding to support any potential offer and so they can only treat the approach as speculative at this stage."

"Your board will continue to look at maximising shareholder value and also ensuring that the club is sufficiently funded for the future."

Doug Ellis currently owns the majority of Aston Villa shares with a 39 per cent stake in the club, with Jack Petchy, former Watford chairman, being the other majority shareholder.

Having been the Villa chairman since 1982, Ellis recently rejected a £47 million buyout bid from a consortium led by Ray Ranson earlier this year.

Ellis is predicted to earn in the region of £20 million from the sale of his Aston Villa shares, with the buyout price valued at £64 million.

Date: 01.11.05

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