(Boursier.com) — Manchester United advance of 3% in pre-session on Wall Street. Jim Ratcliffe is reportedly restructuring his bid for the northern English club, people familiar with the matter told ‘Bloomberg’. The British billionaire would work with his advisers to address the concerns of minority shareholders regarding the terms of his offer. J.Ratcliffe presented a proposal earlier this year to acquire 69% of Manchester United shares owned by the American Glazer family. But, as the agency points out, the question of the holders of the remaining shares, notably Lindsell Train, Ariel Investments LLC and Eminence Capital, had not been raised.
‘Bloomberg’ previously reported that one of Manchester United’s three main shareholders had sent a letter to the club’s board warning that independent directors could risk being sued for recommending a bid favoring one group of shareholders in relation to another.
The boss of giant Ineos is still competing with a group of Qatari investors led by Sheikh Jassim bin Hamad al-Thani in what would be one of the biggest deals ever in the world of sport. Both proposals are still being considered by the club, along with a possible sale of minority stakes, the sources said.
It has been almost a year since the Glazers publicly announced they would be conducting a strategic review of their ownership of the club with a view to a potential sale. Despite the astronomical sums reported by the press, neither the Qataris nor Ratcliffe have so far been able to meet the Glazers’ price expectations.
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