{"id":73341,"date":"2023-10-16T18:14:15","date_gmt":"2023-10-16T22:14:15","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/manchester-uniteds-stock-slides-after-reports-sheikh-jassim-is-withdrawing-his-takeover-bid\/"},"modified":"2023-10-16T18:14:18","modified_gmt":"2023-10-16T22:14:18","slug":"manchester-uniteds-stock-slides-after-reports-sheikh-jassim-is-withdrawing-his-takeover-bid","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73341","title":{"rendered":"Manchester United\u2019s stock slides after reports Sheikh Jassim is withdrawing his takeover bid"},"content":{"rendered":"
\n

Manchester United\u2019s stock fell in premarket trades Monday following reports that Qatari banker Sheikh Jassim is withdrawing his takeover bid for the iconic English soccer club.\u00a0<\/p>\n

Shares of operator Manchester United Ltd
\n MANU,
\n -10.41%<\/bg-quote>
\n fell 10.8% Monday. The stock ended Friday\u2019s session up 1.2%.<\/p>\n

Related:<\/strong> Qatari banker Sheikh Jassim is withdrawing his bid to buy Manchester United<\/p>\n

\n

Jassim, the chair of Qatar Islamic Bank and the son of a past prime minister of Qatar, has been locked in a battle with British billionaire Sir Jim Ratcliffe\u00a0to wrest control of Manchester United from the American Glazer family. MarketWatch understands that Jassim had been seeking 100% of the club.<\/p>\n

The Glazers\u00a0took control\u00a0of Manchester United in 2005. In November, they\u00a0confirmed\u00a0they were exploring potential financial investment in \u2014 or an outright sale of \u2014 the Premier League club.<\/p>\n

Related:<\/strong> Manchester United takeover: Sir Jim Ratcliffe considering minority stake offer, report says<\/p>\n

Last month, Bloomberg\u00a0reported\u00a0that Ratcliffe, the chief executive of the chemical giant Ineos, is restructuring his Manchester United bid in an attempt to break the months-long deadlock in the takeover battle. The Guardian reports that Manchester United\u2019s board is expected to vote on Ratcliffe\u2019s bid for a 25% stake in the club in the coming days. The 25% stake is valued at about $1.6 billion, according to the report.<\/p>\n

Ineos has not yet responded to a request for comment on this story. Manchester United declined to comment.<\/p>\n

Related: <\/strong>Manchester United extends Adidas deal in pact worth $1.2 billion<\/p>\n

Manchester United\u2019s stock has fallen 24.8% in the last three months, outpacing the S&P 500 index\u2019s
\n SPX
\n decline of 3.7%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Manchester United\u2019s stock fell in premarket trades Monday following reports that Qatari banker Sheikh Jassim is withdrawing his takeover bid for the iconic English soccer club.\u00a0 Shares of operator Manchester United Ltd MANU, -10.41% fell 10.8% Monday. The stock ended Friday\u2019s session up 1.2%. Related: Qatari banker Sheikh Jassim is withdrawing his bid to buy […]<\/p>\n","protected":false},"author":1,"featured_media":73342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-73341","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nManchester United\u2019s stock slides after reports Sheikh Jassim is withdrawing his takeover bid | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Manchester United\u2019s stock fell in premarket trades Monday following reports that Qatari banker Sheikh Jassim is withdrawing his takeover bid for the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=73341\" \/>\n<meta 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