Why Manchester United Shares Are Plunging Today
Portfolio Pulse from Shivani Kumaresan
Manchester United Plc (NYSE:MANU) shares fell nearly 10% during premarket trading on Monday following the Qatari group's decision to reportedly pull away from acquiring the football giant. The acquisition process was plagued by a series of hiccups with bidders unable to meet the £6 billion ($7.3 billion) valuation set by the Glazer family. British billionaire Jim Ratcliffe appears to be taking center stage in the Manchester United takeover bid, potentially acquiring an initial 25% stake in the club.
October 16, 2023 | 12:24 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Manchester United Plc's shares fell nearly 10% due to the Qatari group's decision to pull away from acquisition. The company's future now hinges on a potential takeover by British billionaire Jim Ratcliffe.
The Qatari group's decision to pull away from acquiring Manchester United Plc has led to a significant drop in the company's share price. The future of the company now depends on a potential takeover by British billionaire Jim Ratcliffe. If the takeover is successful, it could potentially stabilize the company's share price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100