Glazer tightens his grip on Manchester United
Written by JDPGlobal | Thursday, 30 June 2005
Mr. Glazer has tightened his grip on Manchester United, and now he needs only 0.3% of the remaining shares to touch the magical figure of 97.6% which would mean total autocracy over the club.
This will lead to a forced sell-off from the other stakeholders, whether they like it or not. He had originally kept his £3-a-share offer to them, and it will be known soon how many of them have accepted the offer.
The loyal fans of the Man united, who are agitated with the £790m take over of Glazer, said they will fight till the end with the remaining shares. If Glazers offer succeeds to a total of 204,504 shareholders to take him to 97.6%, the shares in the hands of the remaining will be worthless.
Though the critics believe that a 100% takeover would be successful, it seems we will have to wait for Glazer’s announcement on Monday.
