On Wednesday, Ashley bought 41.6% of the club´s shares from Sir John Hall and family and has offered the same price of 100p per share to Shepherd - who owns 29.8% - and the rest of the Magpies´ shareholders.
But Shepherd does not look likely to relinquish his stake quietly, saying: "There is nothing Mike Ashley can do with this club unless he gets a 75% stake. He has spent £50m but he will have to spend a whole lot more, as he must now make an offer not just for my shares but the shares held by all the other shareholders."
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