# Manchester United shares climb on speculations over takeover bid
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-06-13
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Manchester United shares surge on Qatar takeover bid
Meta Description: Manchester United's shares jump 15% on Sheikh Jassim bin Hamad al-Thani's potential takeover bid. Latest update on Qatari media reports and bids.
URL: https://financedigest.com/manchester-united-shares-climb-on-speculations-over-takeover-bidhtml

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(Reuters) -Manchester United’s shares were up 15% in premarket trading on Tuesday after a report hinted that Qatar’s Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid for the English football club.

Qatar’s Al-Watan newspaper reported on Tuesday evening that Sheikh Jassim, son of a former prime minister of the country, was poised to be announced as the preferred bidder of the Premier League soccer club, CNBC said.

Reuters could not immediately verify the Qatari media report. [Manchester United](https://www.financedigest.com/soccer-manchester-united-fans-want-more-say-under-any-new-owners.html "Soccer-Manchester United fans want more say under any new owners") declined a Reuters request for comment.

UK’s Daily Mail said last week that Sheikh Jassim had made a “fifth and final” offer of more than 5 [billion pounds](https://www.financedigest.com/edf-delays-uk-nuclear-project-to-2027-ups-price-by-3-billion-pounds.html "EDF delays UK nuclear project to 2027, ups price by 3 billion pounds") ($6.28 billion) after British billionaire Jim Ratcliffe’s INEOS reportedly outbid him in April.

New York-listed shares of Manchester United were up at $23.07, [paring almost half their premarket gains](https://www.financedigest.com/dollar-pares-gains-as-us-growth-contracts-for-second-quarter.html "Dollar pares gains as US growth contracts for second quarter") on Tuesday. The stock has risen 53% since the club’s owners, the American Glazer family, said in November they were [considering selling](https://www.financedigest.com/investors-often-ignore-capital-gains-tax-but-should-consider-selling-now-to-avoid-a-higher-future-tax.html "Investors often ignore capital gains tax, but should consider selling now to avoid a higher future tax") the club.

No deal has been [reached yet](https://www.financedigest.com/sovereign-bond-yields-not-yet-reached-a-summit-reuters-poll.html "Sovereign bond yields not yet reached a summit – Reuters poll"), days after Sheikh Jassim’s “deadline” last week, after which he said he will not enter any further negotiations.

The Glazer family is reportedly [seeking 6 billion pounds](https://www.financedigest.com/british-pound-drops-as-investors-seek-safety-on-freedom-day.html "British pound drops as investors seek safety on ‘Freedom Day’") ($7.5 billion), which would be a world record for any sports club or franchise, but neither bid is that high.

(Reporting by Medha Singh in Bengaluru; additional reporting by Aditya Soni; Editing by Shinjini Ganguli)


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