Glazers Back

[MUFC]

American tycoon Malcolm Glazer has revived his bid for Manchester United and has already appointed new merchant bankers to help him.

Glazer has turned to NM Rothschild, one of the City's leading financial institutions, who have been advising Arsenal on the move to their new ground, Ashburton Grove.

His previous bid, which was put to the United board but has never been revealed to all the shareholders, was rejected by the club because it was "overly leveraged", in other words a Glazer takeover would have put the club into massive debt.

Following that rejection Glazer flexed his muscles at last November's annual general meeting where he used his 28.1 per cent shareholding to sensationally vote three directors off the United board.

But within hours his then merchant bankers, JP Morgan, pulled out, as did his public relations advisers, Brunswick.

Whether Glazer will make another offer or go on stalking the club is not clear. There is speculation that he is considering a bid with less debt but which could involve borrowing against future ticket sales and lead to higher ticket prices.

United shares rose 2p yesterday to £2.54, valuing the company at £663 million, but Glazer would need to offer 300p, valuing the club at £800 million to be successful. United's major shareholders, Irish entrepreneurs J P McManus and John Magnier, who own 29 per cent, are crucial but so far have shown no interest in any Glazer plan. As shrewd businessmen, they would look at a good offer.

The latest move by Glazer will fuel further opposition from the fans who mounted a vigorous campaign in the autumn to thwart him.

[jordo]

he just wont fuck off will he ?

if he could afford us id welcome him but he cant .

we will be in debt if he buys us ,and with the likes of chelsea taking the major honors our income from trophys etc etc would be far less and surely that would hamper any loans we had to pay back .

if he had the money then fair enough but he dont and i cant see him taking over .

bit off topic but while talkin about debt , chelsea just anounced they have a record loss of proffits of £80m +

and that bald headed utd reject commented that " there wont be extravagant spending and higher wages "

also it was stated that over 70 % of the loss was due to player wages .

be funny if ambrobitch packed up and fucked off next year lol

[russe||]

JP Morgan would be willing to finance Malcolm Glazer's takeover bid for Manchester United if the U.S. tycoon agreed a friendly deal with the board of the world's richest soccer club, according to sources familiar with the matter.

"They would be prepared to do that if the deal happens," said one of the sources on Monday.

People close to the matter told Reuters on Friday that Glazer was working with investment bank Rothschild on a potential 800 million pound offer for Manchester United after two of his earlier attempts were rebuffed.

United shares soared 6.3 percent to 271 pence a share by late morning, valuing the 15-times English soccer champions at about 710 million pounds.

JP Morgan had advised Glazer on his last bid approach, but the bank walked away from the owner of the Tampa Bay Buccaneers American football team after he used his 28 percent stake in United to oust three of its board members during the club's annual general meeting.

While JP Morgan would be prepared to back Glazer's bid this time around -- either on its own or as part of a consortium of banks -- it will not advise him on any new offer, the sources said.

JP Morgan declined to comment.

A debt-free business with one of the best-known brands globally, United has fallen prey to rampant takeover speculation because of its huge marketing and cash-generating potential.

United said in December it had held fresh takeover talks with Glazer, but it stressed those negotiations would go no further until the American put a firm offer on the table.

A spokesman for Manchester United reiterated that stance on Monday.

Glazer has said any new bid would consist of more cash and less debt than his previous proposal, a move seen as key since United's board said previously it would not back a bid that left the club deeply in debt.

As well as needing to get United's management back on board, the American also needs the support of the club's two key Irish shareholders -- horseracing magnates J.P. McManus and John Magnier -- who between them own nearly 29 percent of the club.

It was the failure to get the Irish on board that led to Glazer's last bid attempt falling apart, causing United to end the takeover talks.

Sources familiar with the matter said glazer had not made contact with Cubic Expression, the investment vehicle of the Irish investors.

[adz-a-fella]

Malcolm Glazer has moved to distance himself from reports that he is ready to launch a fresh takeover bid for Manchester United.
The American has already had two bids for the North West giants rebuffed but recent rumours have suggested he is ready to reignite his interest.
Speculation has suggested that Glazer has garnered the support of investment bank NM Rothschild and is mulling over the prospect of a fresh bid - thought to be in the region of £800 million.
JP Morgan are also thought to be willing to back Glazer on the proviso his approach for the club is 'non hostile' but any bid will likely cause outrage amongst the club's supporters.
United are currently in an Offer Period but Glazer remains tight lipped about this latest development and refuses to comment on the breaking news in the UK.
''The Glazer family wishes to record that no statement made in the UK press in recent days, attributed to any member of the family or person associated with the family, was authorised,'' said a statement released to the Stock Exchange.

[MUFC]

Has glazer spoken out yet?

[adz-a-fella]

He persoanllly never does though, does he? It's always someone reporting a statement from the family.