[lfc-news] Morgan poised to swoop - Echo

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Liverpool Echo, 11 July 2004
Morgan poised to swoop
By David Prentice, Liverpool Echo

STEVE MORGAN may be poised to mount a new bid for control of Liverpool
after his offers to invest in the club earlier this summer were rebuffed.

The building magnate and lifelong fan was reportedly close to completing a
£75m takeover with chairman David Moores today.

But if Morgan has had a bid accepted it could be rubber-stamped at next
week's scheduled board meeting.

Any full takeover of Moores's shares, however, would have to be ratified at
an extraordinary general meeting.

A takeover would mean Moores standing down as chairman and Morgan creating
his own board.

The building tycoon tried to invest £73m into the club earlier this summer,
at the same time as the Thai government was planning to invest. But his
offer was thrown out for "undervaluing the club".


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