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Last Updated: Tuesday, 27 March 2007, 06:39 GMT 07:39 UK
Duo complete Liverpool takeover
George Gillett and Tom Hicks
Gillett and Hicks will be co-chairmen of Liverpool
George Gillett and Tom Hicks have completed their takeover of Liverpool after 98.6% of shareholders agreed to sell them their shares.

Under Stock Exchange rules, the remaining shares can be can now be purchased compulsorily.

The Americans had gained unconditional control of the club by passing the 80% share threshold and the new mark brings their takeover to a conclusion.

The pair will now seek to re-register the club as a private limited company.

Liverpool had seemed set to tie up a deal with Dubai International Capital.

However, the club decided not to formally accept the takeover bid in January and DIC withdrew its offer.

The Merseysiders instead considered a new bid from Gillett, who had added Hicks to his team, and an offer of 5,000 per share was made.

Gillett and Hicks presented their provisional offer to former Liverpool chairman David Moores and chief executive Rick Parry at the start of February.

The American duo set up a company called Kop Football Limited to buy the club and Liverpool agreed to the terms offered by Gillett and Hicks on 6 February.

Gillett and Hicks, who both own ice hockey franchises in the NHL, had gained acceptances to purchase 80.7% of shares by 9 March before increasing that to the 98.6% level.

The pair wanted to wait until officially completing their takeover before discussing plans for the future and will now meet with Liverpool manager Rafael Benitez on Sunday.

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