Shares of Manchester United (MANU.N) rose to a two-month high on June 13th following news that Qatari prince Sheikh Jassim bin Hamad al-Thani had successfully acquired the Premier League club.
MANU.N saw its biggest one-day gain since November, rising 13.8% to $22.90 at market close. The stock has gained more than 23.9% in the past three trading days and 26.3% over the past month.
On the evening of June 12th, the Qatari newspaper Al-Watan published a tweet stating that Qatari banker Sheikh Jassim Bin Hamad Al Thani had gained control of Manchester United, based on an unspecified source of "reports," and added that the deal would be announced soon.
The Glazer family first announced the sale of Man Utd, one of the most famous football clubs on the planet, in November 2022. Since then, MANU.N shares have risen nearly 76%.
According to the British newspaper Daily Mail, Sheikh Jassim has made a “fifth and final” offer worth more than £5 billion ($6.28 billion) after British billionaire Jim Ratcliffe's INEOS group outbid him in April.
The Glazer family is said to have offered Manchester United for sale at £6 billion ($7.5 billion). This would be a world record for any sports club or franchise. However, no bidders have submitted such a high price. The Glazer family has yet to comment on the matter.
Nguyen Tuyet (According to Reuters, Barron's)
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