Shares of English soccer club Manchester United (NYSE:MANU) slipped on Thursday after Bloomberg reported that the current owners may favor a bid from billionaire Jim Ratcliffe for a minority stake. The Glazer family, who currently run the club, appears to prefer this over a rival bid from Qatari investors. The report noted that Ratcliffe plans to acquire a 25% stake that would value the soccer club at more than £5 billion ($6.1 billion).
According to Bloomberg, as early as these next few days, the Manchester United (MANU) board is scheduled to meet and examine the most recent bid. The Qatari investors may also push up their offer to challenge Ratcliffe’s bid.
Former Manchester United star David Beckham told CNBC in an interview that he believes there will be a takeover, stating that he thinks it’s time. In addition, he stated that the club should be taken over by whoever cares about it the most in hopes of taking it back to glory.
Is Manu Stock a Buy?
A look at the past five trading days for MANU stock highlights the level of impact today’s news had on it. Indeed, shares dipped -1.21% at the time of writing. Nevertheless, investors are now up 3.20% during this timeframe.