Sir Jim Ratcliffe ‘preparing restructured bid’ amid Manchester United takeover proposal.
The two front-runners to buy the Premier League club from the infamous Glazer family are INEOS founder Sir Jim Ratcliffe and Qatari financier Sheikh Jassim.
In order to hasten the takeover of Manchester United, Sir Jim Ratcliffe is putting together a “restructured” offer.
The drama has reportedly continued for ten months despite the Glazer family’s announcement of a “strategic review” of their ownership, according to Bloomberg reports. while things stand, there hasn’t really been much progress while the Americans continue to consider the formal proposals from the two leading bidders.
In order to hasten the takeover of Manchester United, Sir Jim Ratcliffe is putting together a “restructured” offer.
The drama has reportedly continued for ten months despite the Glazer family’s announcement of a “strategic review” of their ownership, according to Bloomberg reports. while things stand, there hasn’t really been much progress while the Americans continue to consider the formal proposals from the two leading bidders.
The structure of those bids varies, though, and it’s also believed that the Americans want closer to £6 billion for their shares. Despite the fact that the process has been prolonged out since November of last year, supporters are still waiting for specific updates.
In a rare interview this month, British billionaire Sir Jim provided a fresh update on his acquisition plan. “The Manchester United bid would have been unthinkable two or three years ago if we hadn’t had some of the experiences,” the 70-year-old said to INEOS.TV. “We’ve had some quite difficult experiences with Lausanne and Nice.”
“You can’t really think about buying a brand like Manchester United and failing because the failure is just far too painful and public in a deal like that,” Sir Jim remarked.
The Failsworth-born businessman, who grew up cheering for United, is reportedly prepared to make a sixth offer to the Glazer family, according to Bloomberg sources. According to the story, Sir Jim is collaborating with advisors in an effort to allay worries about “complexities” in his prior offer.
That required preserving Americans as the club’s minority stockholders. By the time trading on the New York Stock Exchange (NYSE) ended on Monday afternoon, United’s share price had increased to $19.36.
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