Glazer has enough Man Utd shares to force fans to sell

[Man Utd Mrs]

Malcolm Glazer, the US sports tycoon, will tomorrow reveal that he has acquired more than 90 per cent of shares in Manchester United, allowing him to force fans opposed to his £790m takeover of the club to sell their shares.

http://www.money.telegraph.co.uk/mo...242&sSheet=/money/2005/06/12/ixfrontcity.html

 

[thewelshconjurer]

So who sold him his shares?

 

[The Hairdryer]

So who sold him his shares?

Some people!

 

[The Hairdryer]

Malcolm Glazer, the US sports tycoon, will tomorrow reveal that he has acquired more than 90 per cent of shares in Manchester United, allowing him to force fans opposed to his £790m takeover of the club to sell their shares.

http://www.money.telegraph.co.uk/mo...242&sSheet=/money/2005/06/12/ixfrontcity.html

I'm not update with this, but I thought he had to get 90% of the remaining shares? Not 90% all up.

 

[Man Utd Mrs]

Dunno?
Doesnt sound good though, does it?

I've still got mine........

 

[Man Utd Mrs]

[/IMG]

 

[Number7]

The more shares he gets the more debt he gets and the more interest on his loans he pays, so he's more likely to leave quicker.

 

[Ern]

Dunno?
Doesnt sound good though, does it?

Blame SU.

 

[Red Devil]

I think all the shares he bought recently are the SU shares

 

[R*v*N]

So who sold him his shares?

David Gill and Nick Humby

 

[roxyfella]

I sold mine last week.

 

[Ern]

I think all the shares he bought recently are the SU shares

SU shares? You mean SU are selling shares?

 

[thewelshconjurer]

David Gill and Nick Humby

14% ??

 

[Reflectorboy]

oh goodness please keep it a PLC

 

[Sir A1ex]

SU shares? You mean SU are selling shares?

Not been keeping up with this one, eh?

Yes, Shareholders United are reluctantly closing the Share Scheme, and giving their members the choice between transferring their shares to their own name, or taking the cash.
Due to the situation, they are "advising" (I use the term loosely, as they're not actually allowed to advise at all) that members sell up and put the money into the "phoenix fund", a high interest savings vehicle where the money can be kept in trust for the member ( as the shares were) with a view to buying back as much as possible if and when Glazer sells up (under whatever circumstances).

 

[Sir A1ex]

I think all the shares he bought recently are the SU shares

SU only had a couple of percent within the SUSS. But many more of those being sold at the moment are probably "affiliates" who will act in a similar way to SU.