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American hedge fund Polygon is trying to acquire Newcastle United. Polygon, best known for the aggressive positions it has taken during corporate restructurings at British Energy and fashion retailer, has been working with investment bank UBS on a buyout proposal for several months. Sir John Hall currently controls 28.5 per cent of Newcastle United through a Guernsey-based company called Winyard. Sir John's son Douglas is connected to other interests that account for another 13 per cent of the shares. Shepherd Offshore, the company connected to Newcastle chairman Freddy Shepherd, owns another 26.7 per cent of the club. Talks between Sir John and another bidder broke down last November, although it has been clear for some time that he is interested in selling his shareholding. Polygon's interest in Newcastle reflects growing interest in football from hedge funds. Och-Zift Capital Management, Perry Capital and Citadel were key interests in Malcolm Glazer's Manchester United takeover last year. Chelsea has recently announced a link up with US group Anschutz who own four soccer clubs in the MSL. However, the Dome investors have denied recent rumours that they are interested in acquiring a stake in nearby Charlton Athletic.
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