Manchester United takeover news latest as share price suffers record fall
Last week, a report started circulating over the weekend that the Glazer family would pull Man Utd off the market. Thus, the much-awaited Manchester United takeover will not go through. This latest Man Utd sale news has made the club’s stock price plummet registering a record fall.
Manchester United became a public traded company in 2012. In March 2012, United suffer a record drop of 13.8% in share price. However, yesterday’s fall broke that record as the price fell 18.22% in one day. That was the magnitude of the latest Man Utd takeover news that stated the Glazers will not sell until 2025.
The market value of Manchester United fell by £600m.
The market capitalization of Manchester United is £3bn. However, the Glazers wanted £6bn to sell Man Utd. But, last weekend, reports broke that Glazers will pull the club off the market and look to sell the club at £6bn in 2025. This negatively impacted the club’s valuation with share price plummeting.
Manchester United's shares fell by a record amount for a single day today. Shares down 21% at one point & currently at 18%. Over £550m taken off market value. Numbers on course for worst day in #MUFC's 11 years as a public company as market reacts to reports Glazers won't sell.📉 pic.twitter.com/W1LJhte4l2
— Ben Jacobs (@JacobsBen) September 5, 2023
Yesterday, the market value of Man United fell by £600m. It is a 30% fall from the 12-month high that the share price made in February of this year. The Glazer family has offer two offers for Manchester United takeover from Sheikh Jassim and Sir Jim Ratcliffe. Both are not meeting the expected value of £6bn of the Glazers.
Bidders for Manchester United takeover remain interested. Although the rumours of the Glazer family shutting down Manchester United takeover process has gathered momentum, the bidders in this saga still remain interested to buy the club. The bidders are yet to be informed about the club is not for sale anymore. Also, as per 90min, the Raine group has set a deadline for November for the Man Utd takeover to go through.
Do you think Man Utd will be sold by November? Let us know in the comments!