Jim Ratcliffe is reworking his takeover bid for the Manchester United soccer club, Bloomberg reports.
Jim Ratcliffe, the chief executive of the chemical giant Ineos, is reworking his takeover bid for iconic English soccer club Manchester United, according to Bloomberg.
The British billionaire is working with his advisers to address concerns about the terms of his bid from minority investors in Manchester United, Bloomberg reports, citing people with knowledge of the matter. Shares of operator Manchester United Ltd. MANU, +2.27% rose 0.6% Tuesday after ending Monday’s session up 4.2%.The takeover battle for the club has been deadlocked for months. Sheikh Jassim bin Hamad al-Thani, the chair of Qatar Islamic Bank and the son of a past prime minister of Qatar, has also made a bid for Manchester United. The Manchester Evening News reports that Ratcliffe’s and Sheik Jassim’s current rival bids are worth over $6.1 billion.The U.S.
Manchester United, which defeated Burnley 1-0 on Saturday, is currently in ninth place in the Premier League. Last week the club kicked off its Champions League campaign with a 4-3 defeat of German champions Bayern Munich.
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