Manchester United shares surged on growing M&A speculation following a Daily Mail report that Qatari investors are planning to make a bid for the English Premier League club in the coming days.
(Bloomberg) — Manchester United shares surged on growing M&A speculation following a Daily Mail report that Qatari investors are planning to make a bid for the English Premier League club in the coming days.
Shares in the football club jumped as much as 18% in US premarket trading, set for their biggest one-day gain since November. A bid would come from separate, individual Qatari investors who want a full takeover, the Daily Mail reported late Tuesday citing people it didn’t identify. Manchester United representatives didn’t immediately reply to a request for comment.
The iconic club has been at the center of bid chatter since last year, with shares soaring in November on news that its current owners, the Florida-based Glazer family, were mulling a potential sale of the team.Â
Man United, Liverpool Said to Be Buyout Targets for Qatar
Possible suitors for the club include British billionaire and fan Jim Ratcliffe, while Saudi Arabia’s sports minister Prince Abdulaziz bin Turki Al-Faisal told the BBC last year that its government would support private sector bids for the team, as well as Liverpool FC.
Manchester United’s shares traded 13% higher in the US premarket as of 9:30 a.m. in London, after having fallen over 9% this year up to Tuesday. They surged 64% in 2022.
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