Man Utd shares hit three-year high as US billionaire targets takeover

SHARES in Manchester United hit a three-year high yesterday after it emerged that US billionaire Malcolm Glazer was considering a bid for the club.

Mr Glazer, who upped his stake in United to 16.31% on Thursday, has hired the investment bank Commerzbank to begin preparatory work on a possible bid. The bank would not comment yesterday.

The 75-year-old is the second-largest shareholder in Manchester United after Irish racing tycoons John Magnier and JP McManus, who own 28.89%.