Rumours have been circulating because Glazer had secured the support of investment bank NM Rothschild and it was said that he was working on another £800million takeover move.
It has also been suggested in some quarters that JP Morgan would again be willing to back Glazer providing his approach was `non-hostile'.
United's share price has been slowly falling since before Christmas when the board blocked Glazer and it has been suggested that Glazer's latest rattling is merely an attempt to rally the share price, as he tries vainly to protect his 'investment'. The share price rose slightly yesterday off the back of the gossip, but it has already started to slip back again this morning.
Glazer would be understandably concerned that the value of his 'investment' is being eroded now that he has such a commanding position in the stock. The dilemma he faces is that as a major shareholder with a publicly-stated ambition to enhance his position further he has to be very careful not to take any action, which may cause the share price to move erratically. In short, the funny looking short one is caught between a rock and a hard place.
United are once more in an Offer Period for the third time in twelve months, and this is a direct result of his actions. Glazer must be seen to be acting above board hence his press release to the Stock Exchange this morning:
'The Glazer Family wishes to record that no statement made in the UK press in recent days, attributed to any member of the family or person associated with the family, was authorised.'
Now is not the time for complacency on our behalf but nice to see him squirming - now where is that telephone list?