by dawson99 » Thu May 12, 2005 2:28 pm
LOL all going funny for the scum...good!
Glazer launches bid for Man Utd (from bbc sport)
Malcolm Glazer had until 17 May to make an offer
US sports tycoon Malcolm Glazer has launched a £790m formal takeover bid for Manchester United.
The American has secured the 28.7% stake of Irish racing tycoons JP MacManus and John Magnier, giving him a 59% stake in the Premiership club.
Red Football Ltd, acting on behalf of Mr Glazer, said the Irishmen had sold their stakes for 300p a share.
The bid comes five days ahead of the 17 May deadline for which Mr Glazer had to make known whether he planned to bid.
Shares in Manchester United rallied 34.25 pence, or 12.9%, at 299.25p shortly after the announcement.
"A further announcement containing more detailed terms of the offer will be made shortly," Red Football said in a statment.
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