Takeover bid for Man Utd??

Discussion in 'Manchester United' started by bigtoga, Sep 14, 2003.

  1. bigtoga

    bigtoga Member

    Sep 16, 2000
    Dallas, Texas
  2. Motterman

    Motterman Member

    Jul 8, 2002
    Orlando, FL
    Club:
    Manchester United FC
    Nat'l Team:
    United States
  3. jimone

    jimone New Member

    Sep 12, 2003
    hollywood
    Any accountants on here?

    who could explain the legalities of an individual trying to buy out the control of a PLC. The people at shareholders united seem to think that if they can group 10% of shares, any takeover could be thwarted. My enquiries suggest otherwise. Anyone clued up on business law?
     
  4. haven

    haven New Member

    Jul 9, 2003
    Boston, MA
    Re: Any accountants on here?

    Not EU business law...

    ...but I think what they're referring to is the minimum amount of shares that must be owned by someone other than the primary shareholder to prevent the PLC from going private.

    I wonder how hostile shareholders Utd would be to a takeholder by a lifelong fan...
     
  5. Motterman

    Motterman Member

    Jul 8, 2002
    Orlando, FL
    Club:
    Manchester United FC
    Nat'l Team:
    United States
    Re: Re: Any accountants on here?

    After Judas...err... Kenyon, not very well I'd guess.
     
  6. Devil_78

    Devil_78 Member

    May 7, 2001
    Kashiwazaki, Japan
    Club:
    Manchester United FC
    Nat'l Team:
    England
    Re: Any accountants on here?

    Once you reach 95% of all shares owned, you can force the rest of the share holders to sell up.

    By holding 10%, Shareholders United will prevent any one party from taking over in the entirety. However, they cannot prevent the new shareholder getting his way as majority holder, but they can make their life awfully difficult.

    I think
     
  7. Motterman

    Motterman Member

    Jul 8, 2002
    Orlando, FL
    Club:
    Manchester United FC
    Nat'l Team:
    United States
    Stuart Mathieson
    NOT HERE ROMAN

    MANCHESTER United fans are plotting a Red revolution to stop the club
    falling into the hands of a Chelsea-style tycoon.

    And supporters' trust Shareholders United is urging fans everywhere to
    stump up a tenner - and BUY a major voice in the running of the club.

    Speculation about an expected £600 million takeover bid has been rife
    since it was reported at the weekend that three foreign billionaires
    are ready to pounce.

    Investment banker Keith Harris claims he is prepared to broker a deal,
    and that there has been interest from mega-rich consortia from Saudi
    Arabia, Russia and Europe. Shareholders United reacted to the news
    with alarm and vowed to fight any takeover.

    "If they are dipping their feet in the water to test it we will bite
    their toes off," says Sean Bones, vice-chair of SU, who formed in the
    mid-90s and helped to head off the last big attempt to swallow up
    United, by Australian media magnate Rupert Murdoch.

    SU feel they could mobilise enough Reds to thwart any takeover. Says
    Bones: "If someone wanted to come in and buy a majority shareholding
    in the club, that would be possible because we reckon there is a loose
    element of around 45 per cent of shares held by people who would be
    willing to sell.

    "But there are also, we reckon, between 15 and 20 per cent of shares
    held by hard-core United supporters, people who hold shares because
    they love the club.

    "When these billionaires want to come in, they want to buy the club
    lock, stock and barrel, and that means buying about 90 per cent of the
    club, to force the other ten per cent to sell. They would want to buy
    it whole and take it off the stock market, which would mean supporters
    have no say and no influence.

    "We are telling these magnates they won't be able to do it - by
    rallying everyone together we reckon we could push the price of buying
    United up to between £800 million and £1billion."

    Some United fans have been excited at the prospect of an
    Abramovich-style takeover - they feel it would give Sir Alex Ferguson
    unlimited funds to buy players, as has happened at Chelsea. But SU are
    sceptical.

    Said Bones: "These people promise they will buy any players you want -
    but what usually happens is that after a year or two the supporters
    end up paying for it when seat prices are increased to ridiculous
    levels.

    But SU don’t just want to fight off a take-over they dream of
    effecting a bloodless coup of their own, giving the fans a powerful
    voice on the board, and maybe, one day, taking over the club
    themselves. It’s not as crazy as it might sound, said Bones. Opinion
    polls reckon there are 53 million United fans worldwide.

    It is not unrealistic to think that a supporters’ trust like ourselves
    could attract one-fiftieth of that support if we did that we would
    have one million members.

    One man who doesn’t think it is a crazy idea is Sir Alex Ferguson, who
    has already offered his backing, saying: Groups like Shareholders
    United can only be good for the game. I’d urge United fans to get
    involved.

    SU are quite a way from their dream at present, with 3,000 members,
    but they are working to break down barriers.

    SU have worked to make it easy for United fans to buy a share in the
    club they can join instantly on the trust’s
    www.shareholdersunited.org website, or by picking up a form from
    Bones outside the ground. SU buy up shares from Brewin Dolphin
    stockbrokers, to pass on to ordinary United fans.

    "Every United supporter should make it their business to own at least
    one share in the club," said Bones.

    "Old Trafford is our home and it is our job to defend it when someone
    tries to take it away with bribes of money to be spent on new
    players."
     
  8. bigtoga

    bigtoga Member

    Sep 16, 2000
    Dallas, Texas
    Ahhh - the old Poison Pill strategy... How much is 181p in US$$$? That is the going cost of a share on Yahoo, I think.
     
  9. Lancashire Lad

    Lancashire Lad New Member

    Nov 5, 2002
    Lancashire
    Club:
    Manchester United FC
    Exchange rate quoted here was £1 = $1.55.

    Used to be able to get a lot of $ to the £. A real b***er if you want to go on holiday to the US. :D
     
  10. bigtoga

    bigtoga Member

    Sep 16, 2000
    Dallas, Texas
    so, when I see the quote as "181p", does that mean 181 pounds? I was questioning if 181p wasn't 181 pence but I have *zero* knowledge of the English banking system.

    181 pounds per share seems awfully expensive though
     
  11. Lancashire Lad

    Lancashire Lad New Member

    Nov 5, 2002
    Lancashire
    Club:
    Manchester United FC

    p = pence

    100 pence (pennies) = 1 pound
     
  12. cachundo

    cachundo Katie Meyer Fan Club

    GO STANFORD!
    Feb 8, 2002
    Genesis 16:12...He shall be a wild ass among men
    Club:
    Manchester United FC
    Uncle Phil is rumored to be one of the billionaire$.
     
  13. sch2383

    sch2383 New Member

    Feb 14, 2003
    Northern Virginia
  14. Devil_78

    Devil_78 Member

    May 7, 2001
    Kashiwazaki, Japan
    Club:
    Manchester United FC
    Nat'l Team:
    England
    Not quite sure how.

    It is still going to be hard to convince networks to show the game, and it aint going to be changed just to suit the time difference...
     
  15. Achtung

    Achtung Member

    Jul 19, 2002
    Chicago
    Club:
    Manchester United FC
    Nat'l Team:
    United States
    Uhhhh... wow. The world's most famous soccer club in the hands of an American? And one worth $5 billion at that.
     
  16. Motterman

    Motterman Member

    Jul 8, 2002
    Orlando, FL
    Club:
    Manchester United FC
    Nat'l Team:
    United States
    If Rupert Murdoch couldn't do it, I'm not too sure Uncle Phil can.
     
  17. Achtung

    Achtung Member

    Jul 19, 2002
    Chicago
    Club:
    Manchester United FC
    Nat'l Team:
    United States
    "Look here, that's enough now! I own 60% of that network."

    "Ten thousand dollars! You've saved my network!"

    Just couldn't resist. :D
     
  18. bigtoga

    bigtoga Member

    Sep 16, 2000
    Dallas, Texas
  19. bigtoga

    bigtoga Member

    Sep 16, 2000
    Dallas, Texas
    This just won't die! Reported today on rednews.co.uk:

     
  20. Motterman

    Motterman Member

    Jul 8, 2002
    Orlando, FL
    Club:
    Manchester United FC
    Nat'l Team:
    United States
    Looks like Glazer is the culprit. He's upped his stake again. He owned 5.9% of the club before Friday. This is very worrying for the supporters...
     
  21. haven

    haven New Member

    Jul 9, 2003
    Boston, MA
    Any idea how much Glazer is actually worth? I wasn't under the impression that he's one of the megabillionaires...
     
  22. sch2383

    sch2383 New Member

    Feb 14, 2003
    Northern Virginia
    I don't know if he has enough money to takeover the club, but he may have enough money to buy out enough people to become the largest single shareholder.
     
  23. Fah Que

    Fah Que Member

    Sep 29, 2000
    LA
    Club:
    San Jose Earthquakes
    The Irish duo just bought all of Rupert Murdock's shares. They now own 22% of the club.
     
  24. Potomac Red Devil

    Aug 12, 2003
    Indiana
    Club:
    Manchester United FC
    Nat'l Team:
    United States
    "The Irish duo just bought all of Rupert Murdock's shares. They now own 22% of the club."

    Any implications for this in watching Man Utd on TV?
     
  25. sch2383

    sch2383 New Member

    Feb 14, 2003
    Northern Virginia
    Part of me is very pleased. Merdoch is evil and the less we have to do with him the better. Also, I seriously doubt if he will cut back United games on FSW since the popularity of the club hasn't dropped.
     

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