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Article: U.S. tycoon removes obstacle to acquisition of Manchester United.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 5, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Ian Lyall, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 5--US tycoon Malcolm Glazer has removed one of the stumbling blocks that prevented him taking control at Manchester United.
He is offering John Magnier and JP McManus, the company's largest investors, a concession to get his hands on their 28.9 percent stake in the club.
Glazer, with 28.1 percent, has made a subtle but significant change of stance. He is now willing to hand over the 230 million pounds for their shares once he has studied the company's books.
Before the change of tack he insisted on getting 75 percent investor support for his deal before ...
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