Glazer Buys Out Irish Tycoons & Launches Formal Man Utd Takeover

[Woozie]

American sports tycoon Malcolm Glazer has launched a formal £790 million takeover bid for Manchester United.
In a move that has taken observers by surprise, Glazer has crucially secured the 28.7% stake owned by the Irish horse-racing tycoons JP MacManus and John Magnier. That means he now owns almost 57% of the Premiership club.

Red Football Ltd, acting on behalf of Glazer, said the Irishmen had sold their stakes for 300p (£3) a share.

The bid comes five days before the 17 May deadline when Glazer had to make it known whether he planned to bid.

He is now 18% short of the 75% of shares he needs for the offer to go unconditional. If he gets 75% plus one share, United could be de-listed from the stock exchange and Glazer could transfer his debt onto the club.

If he can get to 90% plus one share, he can make a compulsory purchase and scoop up the other 10% of the club’s shares.

United’s share price rallied by 34.25 pence to 299.25p shortly after the announcement.

A fortnight ago the Manchester United board said it could not recommend Mr Glazer’s takeover proposals to shareholders because his business plan looked too "aggressive".

His first two offers were rejected by the board, on the grounds that his plans relied too heavily on borrowed money.

"A further announcement containing more detailed terms of the offer will be made shortly," Red Football said in a statement.

[The Predator]

That infos correct ^. Its a done deal. They will try to stop him at 75% and fight to the end  but this guy it seems way too determined to get his way. The club is basically his now. The fans are pissed at the treachery of the JP and Magnier duo and say thier betrayal will be remembered for years, but to me that just buisness they made 70 mill i think out of the deal and lots of other profits out of the club. But Man Utd is now at Civil War a David vs Goliath battle between the fans and Glazer but Man Utd is now more or less owned by an American.

I just wanna know what he will do to win the support of the fans coz at the moment they hate his guts and are rallying to cause all sorts of disruption for his future plans. He better offer a big transfer budget or something to win some sort of respect.

For a guy to be that determined to buy the club against the will of the fans and putting the club in debt 5 times that of Leeds Utd a while back he must have some big buisness plans or is one crazy son of a bitch.

[Mac 10 †]

Nick Towle, chairman of fans' pressure group, Shareholders United, claimed he has ripped up his season ticket.

He said: "I am very sad - I still love the club but I refuse to put a penny into the company. And I believe as many as 20,000 fans may also leave Man Utd."

Doesn't this just mean that 20,000 other fans will get their season tickets?

[The Predator]

Nick Towle, chairman of fans' pressure group, Shareholders United, claimed he has ripped up his season ticket.

He said: "I am very sad - I still love the club but I refuse to put a penny into the company. And I believe as many as 20,000 fans may also leave Man Utd."

Doesn't this just mean that 20,000 other fans will get their season tickets?

Yep youre right, theres a lot fans that have been waiting to get thier tickets.

[Mac 10 †]

so then this will go un-noticed?

does glazer care which set of 20000 fans he gets?

[Adam Donnelly]

Great day
Stuart Pearce City Manager
Glazers got United

[Mac 10 †]

Great day
Stuart Pearce City Manager
Glazers got United

i think he will make a good manager

a good strong no-bullshit gaffer that you would be shit-scared of is a good thing i.m.o.

stuart pearce can be everything graeme souness tries to be...and he may actually win a few things for his club too!

[Woozie]

souness has fucked newcastle good and proper; he better get replaced before nxt season starts or it will be the same position again or worse for the toon army...

[Mac 10 †]

"if i don't get the financial backing to take this club forward then i'll walk!  There's only so much i can do!!"

he says with one of the top 6/7 squads in the league!!

[Mac 10 †]

fingers crossed 

[Adam Donnelly]

fingers crossed 

  Nice 1

[Mac 10 †]

Malcolm Glazer has taken another major step towards taking overall control of Manchester United by buying more shares from Harry Dobson.

The American tycoon followed up his buy-out of Irish duo J.P.McManus and John Magnier's Cubic Expression vehicle by splashing out on the 17 million shares owned by Dobson's Mountbarrow Investments Ltd.

With Dobson selling his 6.45 percent stake in The Red Devils, it is surely only a matter of time before Glazer has the 75 percent total that rubber-stamps his takeover and takes the company private.

After taking control earlier on Thursday, the American has paid 300p per share to Dobson, according to a statement released on the Regulatory News Service.

The developments mean he owns a definite 63.25 percent of United, although reports are suggesting that the actual figure could now be nudging 70 percent.

Some sources are indicating that the 75 percent threshold could even be breached within 24 hours, although it may take a little longer before the Tampa Bay Buccaneers owner gets his way.

Glazer has overall control, in any case, and could make sweeping changes within 60 days - including alterations to the current board.
United supporters are planning to protest at Old Trafford on Thursday evening as they continue to fight the takeover.

[Adam Donnelly]

lol A load of Rags are on the phone in Radio wanting Mick Hucknal and wait for it
Ealmon Holmes to buy a load of shares to try and stop him 

Thick fuckers

[Jome]

[Don Seer]

lol


man.......

it'll be interesting to see how this turns out..