Kroenke already owns 67 per cent of the club and stands to take complete control of Arsenal after Usmanov agreed to sell his 30 per cent stake.
The news was announced in a statement to the London Stock Exchange on Tuesday, with the value of each Arsenal share set at £29,419.64.
Kroenke, through his Kroenke Sports and Entertainment (KSE) company, first purchased Arsenal shares in 2007 and has steadily increased his stake since then, becoming a director a year later.
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