MANAGEMENT at British pub and restaurant owner, Mitchells & Butlers (M&B) is preparing a submission to the British Panel on Takeovers and Mergers regarding what it sees as an attempt by some of the group’s largest shareholders to force control of its board.

Speculation that billionaire American businessman Malcolm Glazer is planning a bid to buy Manchester United reached new heights last night after the matter was referred to the UK's Takeover Panel.