United shares ease as fans build up support

SHARES in Manchester United eased back more than 3% yesterday as the markets awaited fresh news on the takeover of the club.

After a flurry of trading last week following confirmation that a bid was on the card, the shares hit a four-year high. But they eased back yesterday to 271p.

There had been speculation that Irish investors John Magnier and JP McManus were on the verge of selling their 29% stake, to Malcolm Glazer who is preparing a bid. However, no direct contact between Mr Glazer and the pair and no firm offer is believed to have been put to them.

The battle against Mr Glazer’s takeover heated up yesterday as ordinary fans hostile to any bid said they have now secured 150,000 people against the bid. They are planning to organise a boycott of United’s merchandise in a move to deter a takeover.

“It’s not just about how many shares are in the hands of fans, but how many fans there are holding shares. A big block of shares gives us voting power, but a large number of shareholders gives us people power - the combination is a powerful force,” said a spokesman for Shareholders United.

Meanwhile, a nursing home chain owned by Magnier and McManus is on the expansion trial.

Their company, Barchester Healthcare, is reported to be top of the short-list to land British nursing home chain Westminster Healthcare. The deadlines for bids was yesterday lunchtime and it is believed that six company’s have submitted second round offers.

The Irish pair are said to have tabled a £500 million offer.