The Manchester United shares, trading under the ticker $MANU, experienced fluctuations following developments in billionaire Jim Ratcliffe's bid to acquire a 25% stake in the football club. Initially, the shares closed at $21.13 on Friday, with a post-tender market price implication of $17.17. However, they only fell 9% to $19.23, reflecting a 3.75 P/S valuation multiple and a 42% discount to Ratcliffe's tender offer. The saga saw last-minute doubts among traders regarding the closure of Ratcliffe's purchase. Ratcliffe's offer, initially set to expire on Tuesday, was extended to Friday. His financial strength, with liquid assets over $4bn and a net worth significantly higher through ownership of INEOS, supported the bid. The Premier League's approval of Ratcliffe's bid, alongside the INEOS Sport division taking over United's football operations, further influenced the share's recovery to $21.00+ in after-hours/pre-market trading.
BREAKING: The Premier League has approved Jim Ratcliffe's proposed bid to buy a minority stake in Manchester United 🚨 As part of the deal, Ratcliffe's INEOS Sport division will take over control of United's football operations 🔴 https://t.co/zR1jUbpV1V
Well, this SHD have been released pre-Mon trading, but Ratcliffe's #ManUtd tender offer is extended & (more importantly) re-opened... ...$MANU recovers its losses accordingly, trading $21.00+ after-hours/pre-mkt: https://t.co/YJibKwRP5A https://t.co/8TKFFKb9ET
Sir Jim Ratcliffe given all-clear by Premier League over Manchester United shares https://t.co/9SkbuUmwQJ
🔴 EXCLUSIVE: Sir Jim Ratcliffe gains Premier League approval over Manchester United sale https://t.co/uQFMQdmT97
Manchester United shares gain after billionaire Jim Ratcliffe extended his offer to purchase a 25% stake in the football club until the end of this week https://t.co/hZ3pZvI250
Sir Jim Ratcliffe’s Manchester United tender offer was due to expire on Tuesday night - extended to Friday. New United financial documentation says Sir Jim’s liquid assets are worth more than $4bn but his net worth is “significantly in excess” of that through ownership of INEOS
Traders wagering on the ownership saga at Manchester United are facing last-minute doubts on whether billionaire Jim Ratcliffe will close his purchase of a 25% stake in the football club this week https://t.co/GdvtuH8zAL
Nice reaction for #ManUtd so far: Friday's $21.13 close implied a $17.17 post-tender mkt price, but $MANU down just (9)% today at $19.23... ...that's a 3.75 P/S val'n multiple & a 42% discount to the Ratcliffe's tender offer/M&A deal value. https://t.co/ezAafTJxLH