Huge United takeover update arrives, months of deadlock could finally be broken – report
A bidding war is on between Sir Jim Ratcliffe and Sheikh Jassim to replace the Glazers as Manchester United owners.
Both Sir Ratcliffe and Sheikh Jassim are the two frontrunners interested in buying the Red Devils.
Sir Jim Ratcliffe wants to buy the club he has been supporting since childhood
Bloomberg reports that Sir Jim Ratcliffe is now restructuring his bid for Manchester United to please the minority stakeholders.
The restructured bid will be Sir Jim’s sixth bid in the process of buying the club.
“The Manchester United bid would have been unthinkable two or three years ago if we hadn’t had some of the experiences – some quite difficult experiences with Lausanne and Nice.
You can’t really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that.”
Sir Jim Ratcliffe told to INEOS.TV
Sir Jim Ratcliffe restructures his Manchester United bid to please minority stakeholders
Ratcliffe’s initial bid was to take a majority stake and leave the Glazers with a small amount of percentage as well.
That would leave United on the stock exchange but voting shares would transfer to the INEOS chief.
However, minority investors are not happy with Sir Jim’s offer.
According to Sir Jim’s original bid, minority stake holder’s shares would remain unsold and they would not receive any profit upon selling their shares.
On the other hand, Sheik Jassim is looking for a complete takeover and take it off the stock exchange.
With Sheikh Jassim’s bid, minority investors would also receive their dues upon selling the shares.
Minority investors like the bid made by the Qatari banker because it is more beneficial to them.
Whereas Glazers like Ratcliffe’s bid since it allows them to have some control over the decisions made by the club.
The takeover drama is now getting interesting as we wait to see whether Sheikh Jassim also restructures his bid to buy Manchester United.
