June 26, 2023 2:00 PM. I am assuming that's EST.
Club Sale | It’s done!
- Thread starter JB08
- Start date
- Status
Eventually one of these sad attention seeking numpties on twitter will be right when they blindly guess that it'll be announced tomorrow
WHAT?!?!?!
Wonder if there be any comments on the sale at all tomorrow considering our financials are being posted
They're saying Sheikh Jassim is likely the winner. Quotes below.
"What Happened: "The results [of the sale] from a bidder perspective will already be known" by the time the football club reports earnings on June 27, an M&A advisor tells Benzinga."
"The likely winner of the Manchester auction is Sheikh Jassim bin Hamad Al Thani of Qatar, who reportedly made a final bid earlier this month."
"I'm genuinely not sure what the hold up is here," the source added."
The Sheikh probably thought he was buying Man City.
This is the most significant news since Reuters.
Even if the details are a timeline it’s well sourced and highly reliable as per their track record.
Even if the details are a timeline it’s well sourced and highly reliable as per their track record.
You don't think we're just getting Bazinga'd here?
Up 10p.
Benzinga is legit. I went to school with some of the guys who were running it at one point.
Tweet
— Twitter API (@user) date
I have a mate who’s friend is an expert in Cayman Island Company law. In a situation where a transaction is agreed that is deemed to be against the interests of the majority of shareholders then the transaction is placed into a lockdown which can only be decided by a last man standing dance off
Are Benzinga actually reliable or are people taking the piss?
Unveil silicus, re-sign weghorst, punch the glazers.
They are apparently.
That is interesting.
If there is any truth to the article then surely there will be more people jumping on. What time are the Q3 figures posted tomorrow?
What's the source?
That is an article stating that those bidding to buy Man Utd will already know the numbers we are going to report.
EDIT - Scratch that, I'm confused.
EDIT - Scratch that, I'm confused.
They're mostly an aggregator when it comes to news, with an attempt to provide decent sources for the average investor. Not bad, but they're no Reuters.
The article says that by the time the results are made public, the successful bidder will already know they have won. Presumably suggesting they either already are aware now or they are set to be told tomorrow morning.
Perhaps considering the report is for MUFC shareholders, the Glazers are planning to use the opportunity to inform them of the successful offer and what it means for them.
I don't understand why the person they are citing, who they claim is an M&A advisor, is supposed to know this?
AlexJonesPex.gif
Could be Raine?
Then they'd be cited as 'person with knowledge of the situation' or something like that, I would've thought.
I don't really think it's that deep.
No idea. I’d imagine the pool of M&A experts in the US that work on multi-billion $ deals is a surprisingly small world though.
Even a broken clock is right twice a day
When it breaks it will come from either the glazers or Raine themselves and I can categorically tell you that not a single member of staff at United from ARNOLD to the board to senior staff and players will have a clue until they are informed at the same time.
This isn’t a managerial appointment or a transfer it’s a M&A it will simply be a press release by Raine or the Glazers. Since they are stock exchange listed it will have to happen at the same time to avoid stock manipulation and it’s a legal requirement.
Hence us all finding out at once.
Athletic, Ornstien, Keegan or Stoney won’t have a clue until it’s announced.
This isn’t a managerial appointment or a transfer it’s a M&A it will simply be a press release by Raine or the Glazers. Since they are stock exchange listed it will have to happen at the same time to avoid stock manipulation and it’s a legal requirement.
Hence us all finding out at once.
Athletic, Ornstien, Keegan or Stoney won’t have a clue until it’s announced.
Depends how it’s broken
Is this not a pretty big jump from 'an M&A advisor tells Benzinga'?
No idea. I’d imagine the pool of M&A experts in the US that work on multi-billion $ deals is a surprisingly small world though.
Doubt it, roasting all week it seems.
It's pretty massive actually
Sure but, the Glazers are the board, they control it.
Noted it is difficult to dissect a decision into whether it is a 'Glazer only' decision or a 'whole club board decision.'
Here the position is further confused because one buyer Jassim is looking to buy the whole club, involving Class A and B, whereas another is seeking to buy Class B shares from only the Glazers.
Who decides which offer to go for? The Glazers, they are therefore acting as the board in making that decision on behalf of all shareholders and not just as the individual Glazer family group of shareholders.
It becomes messy because in their capacity as the board they have to consider the best interest of 'all' the shareholders and that is where they could become unstuck.
They can't assign the Jassim offer as being just a personal, 'Glazer only', decision because he wants to buy all the shares and the Glazer's will be making a decision on behalf of the Class A owners.
Sir Jim's offer, in the absence of any other party making an offer, could have been a 'Glazer only' decision but that is not the case because of Jassim's offer.
Last edited:
It's a story we do not have to wait long to see the accuracy of, at least.
It's blindingly obvious that Jassim is most likely the winner of the auction (being way richer than INEOS) and that it will be announced in the next fortnight. So predicting that doesn't require any special insight or knowledge.
I predict the next general election will be in Autumn 2024 and the tories will get battered. See. It's easy.
I predict the next general election will be in Autumn 2024 and the tories will get battered. See. It's easy.
So big day tomorrow?
Potentially
Ok mate, whatever. The hedge funds will bring the case in the US against the Glazer’s and NYSE. They won’t give a damn about the Cayman Islands.
- Status