Reuters reports:
Shares in English champions Manchester United Plc slid on Monday
after a major shareholder, U.S. sports tycoon Malcolm
Glazer, dampened speculation that he was preparing an
imminent takeover bid.
The stock fell 3.4 percent in opening trade to 270 pence after
Glazer issued a statement denying he had hired an investment
bank to give him bid advice. The stock has doubled in the
past year, partly on persistent bid speculation.
The Malcolm Glazer Family Partnership released a statement stating
that the reason it had bought shares in Manchester United
was "because it has great admiration for Manchester United's
rich history, loyal fans, great players, outstanding
managers, winning tradition and for investment purposes". It
added: "As with any investment, it is considering its
possible options, which may include increasing its
shareholding or decreasing its shareholding in Manchester
United. It could also include a possible offer for or a
possible sale of its shareholding in Manchester United.
"Contrary to press speculation, no financial adviser has as yet
been appointed in connection with its investment in
Manchester United."
